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Debt Management Office
Republic Of Indonesia

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ë a
 Constitution (article 23)
ë Law No. a of 2003 on Public Finance
ë Law No. a of 200
on Treasury
ë Law No. 2
of 2002 on Government Securities
ë Law No. a of 2008 on Islamic Government Securities
ë Law on Government Budget is enacted annually
ë Government Act No. 
of 2008 on Government
Domestic Loan
ë Government Act No. a0 of 20aa on Government
External Loan and Grant




   
Government Budget is based on the provisions
of Article 23 of the a
 Constitution :
ë The Government Revenue and Expenditure
Budget is enacted annually by law
ë The proposed Government Budget is prepared
by Government for joint deliberation with
Parliament
ë In the event that the parliament does not
approve the proposed Government budget , the
government shall apply the Government Budget
adopted for the preceding year
Õ
      


ë Preparation of the proposed Government

budget by the Government
ë Discussion of the proposed Government
budget with Parliament
ë Government budget implementation
ë Government budget supervision by the
Supreme Audit Agency

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ë Basic Macro Economical Assumption

ÿ Economic growth
ÿ Inflation rate
ÿ Exchange rate of the IDR against the US dollar
ÿ The interest rate of SBI 3 months
ÿ The average price of Indonesian crude oil (ICP)
ÿ Crude oil lifting
ë Fiscal Policy
ÿ Government revenues and grants
ÿ Total government expenditure
ÿ Deficit financing
x
     
ë Parliament approves the annual limit for budget deficit
ë Budget deficit ceiling limit shall not exceed 3.0% of GDP in the
relevant year (cumulative amount of State Budget and
Regional Budget deficit)
ë Budget deficit financed by government debt and non
government debt
ÿ Government debt
External loan
Domestic loan
Conventional government securities
Syariah or Sukuk securities
ÿ Non-Governement debt
Investment fund account
Asset recovery
Privatization proceeds
ë Debt ceiling limit shall not exceed 60.0% of GDP (central
government and local government) ^

    

ë 2002 ë Government Securities Law

ë 2003 ë First issuance of Government bond
ë 200
ë First issuance of global bond
ë 2006 ë Establishment of DMU
ë 2008 ë Sukuk Law, first sukuk issuance

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