JAKARTA, July 14 (Xinhua) -- S&P Global Ratings has affirmed Indonesia's long-term sovereign credit rating at BBB with a stable outlook, citing the country's solid growth prospects, prudent macroeconomic policies and relatively low government debt despite global economic uncertainty.
The rating agency also maintained Indonesia's short-term sovereign credit rating at A-2 and projected the economy to grow by around 5.1 percent in 2026, supported by strong domestic demand and investment.
Finance Minister Purbaya Yudhi Sadewa said Monday that the decision reflected confidence in Indonesia's economic fundamentals and policy credibility.
He added that the government remained committed to keeping the budget deficit below the statutory ceiling of 3 percent of gross domestic product.
S&P also highlighted a recovery in state revenue, which increased by around 21 percent year on year in the first half of 2026, supported by improved tax administration and higher non-tax revenue.
The agency said the stable outlook reflected expectations that pressure on Indonesia's fiscal and external positions would ease as government revenue recovers, commodity prices stabilize, the rupiah strengthens and economic reforms continue. ■
