Rising Debt at the End of Jokowi’s Term

The 10 years of Joko Widodo’s administration leaves behind a mountain of debt. The management of the state budget shows minimal public participation and oversight.

Khairul Anam

July 29, 2024

TO see the impact of President Joko Widodo’s economic policies over the past decade, one can look at the 2025 Macroeconomic Framework and Fiscal Policy Principles (KEM-PPKF) released by the Ministry of Finance. On page 25 of the 356-page document, it states, “The debt-to-GDP (gross domestic product) ratio has increased significantly over the past 10 years.”

Following that sentence, the Ministry of Finance stated that from

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