Indonesia`s foreign debts still safe at 29.2 percent of GDP

The total debts were relatively low compared with the debts of many other countries, Hendy Sulistiowaty, the central bank`s executive director for statistics, said.
Jakarta (ANTARA Bews) - Bank Indonesia said Indonesias foreign debts totaled US$260.3 billion or 29.2 percent of its Gross Domestic Products (GDP)in November 2013.

The total debts were relatively low compared with the debts of many other countries, Hendy Sulistiowaty, the central banks executive director for statistics, said here on Wednesday.

"The ratio of Indonesias debts to the GDP is still well below international maximum safe limit of 50 percent," Hendy said.

In November 2013, the governments foreign debts narrowed 2.7 percent to US$123.3 billion year-on-year and the foreign debts of the private sector grew 10.2 percent to US$137 billion.

Hendy said the growth of the countrys foreign debts in December, 2013 was estimated to be lower to continue the trend in the previous months.

"Normally, there is no much debt withdrawal in December," he said.

In November, 2013, the growth of foreign debts slowed with a growth of only 3.7 percent on-year compared to a 5.9 percent growth in October.

Hendy said in the first months of 2014, the slowing trend is expected to continue.

"Normally in the first months of year the foreign debt growth is also slowing," he said.

In November 2013, the slow growth was attributable mainly to narrowing debt of the public sector.

The debts of the private sector also slowed in growth by 10.2 percent (yoy) from 11.5 percent (yoy) in the previous month.(*)

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