JAKARTA – The government of President Joko Widodo is nearing the end of its term, leaving behind a massive debt burden that casts a shadow over Indonesia's future. On the cusp of a power transition, Indonesia's debt continues to skyrocket, projected to reach Rp 9,000 trillion by the end of Jokowi's term, far surpassing the debt inherited from the Susilo Bambang Yudhoyono (SBY) era, which was only Rp 2,500 trillion in 2014.
A discussion initiated by the AstabratA Institute on Friday, September 6, 2024, served as an open forum for cross-generational activists and student representatives from various BEMs across Java to critically discuss the worsening state of the country's debt. Under the theme "The Legacy of Jokowi's Government Debt," the discussion presented data and facts that raised awareness that the nation is on the brink of a major economic crisis.
Based on the Central Government Financial Report (LKPP) as of December 31, 2023, the total government liabilities were recorded at Rp 9,536.68 trillion, a significant increase from Rp 8,920.56 trillion the previous year. Moreover, the overall government debt, including liabilities related to state-owned enterprises and pension programs, is projected to surpass Rp 22,000 trillion in 2024. This fact indicates a drastic increase that places the nation in a precarious situation, far from the promised people's welfare.
Voices from Senior Activists: Sounding the Alarm The discussion began with an opening speech by Bob Randilawe, former Chairman of ProDem, who expressed deep concern over the "reckless" debt policy under Jokowi's administration. Bob, with his undiminished spirit of activism, reignited the flame of change among the audience, especially the enthusiastic students who were eager to challenge the economic policies perceived as burdensome to the people.
Facts and Figures That Shake One of the main speakers, Dr. Awalil Rizki, presented alarming data on government debt. In his presentation, Awalil asserted that the debt under Jokowi's administration was not productive. "The debt taken is not to increase people's welfare, but only to cover interest payments, and there is a strong suspicion of corruption," he emphasized.
The graph presented by Awalil clearly showed a sharp increase in debt each year, while economic growth remained stagnant. This statement was met with a roar from the discussion participants. Chants of "Fight!" echoed, signifying the deep disappointment of students and activists in the policies that burdened the nation.