No. 27/254/DKom
Rating and Investment Information, Inc. (R&I) affirmed the Sovereign Credit Rating (SCR) of the Republic of Indonesia at BBB+, two notches above investment grade, with a stable outlook on 24 October 2025. This decision reflects R&I's confidence that Indonesia's economic fundamentals remain solid, supported by favorable demographics, abundant natural resources, and a growing manufacturing sector. R&I assessed that Indonesia's inflation remains stable, government debt levels stay low, and monetary and fiscal policies are prudent. However, R&I considers that further assessment is required on the government's measures to promote economic growth while maintaining sound fiscal conditions over the medium term.
Responding to R&I's decision, Governor of Bank Indonesia Perry Warjiyo conveyed that R&I's affirmation of Indonesia's rating reflects strong international confidence in the country's solid macroeconomic conditions and resilient financial system amid continued global economic and financial uncertainty. “The economy requires stronger collective efforts to achieve higher and sustainable growth in line with its potential. Close synergy between Bank Indonesia and the Government is expected to further strengthen positive confidence in Indonesia's economy," Governor Perry emphasized.
R&I projects Indonesia's economy to grow by around 5% in 2025, consistent with Bank Indonesia's projection, which is above the midpoint of the 4.6–5.4% range. R&I also believes that inflation will remain within the target range, while the current account deficit is expected to remain low at around 1% of GDP. On the fiscal front, the Government maintains a strong commitment to keeping the fiscal deficit below 3% of GDP.
Going forward, Bank Indonesia will continue to closely monitor global and domestic economic and financial developments, take necessary policy measures, and further enhance synergy with the Government to support sustainable economic growth and maintain macroeconomic stability.
Jakarta, 27 October 2025
Communication Department
Ramdan Denny Prakoso
Executive Director
