Indonesia's Central Government Debt (% of GDP), 1990-2022

Indonesia's debt-to-GDP ratio dropped dramatically from 37.1% in 1990 to 23.34% in 1997, reflecting fiscal discipline. However, the Asian Financial Crisis caused a sharp rise to 87.44% by 2000, as the government implemented bailouts and reforms.

Subsequent economic recovery and strong growth reduced debt steadily, reaching 22.95% in 2012. The COVID-19 pandemic caused a reversal, with debt peaking at 40.7% in 2021, followed by slight recovery to 39.48% in 2022.

For a deeper dive into the topic, explore Indonesia’s population growth trends, Indonesia’s annual GDP growth rate, Indonesia’s government debt-to-GDP ratio.