Hashim Djojohadikusumo calls social media debt claims false

Indonesia carries a national debt-to-GDP ratio of 40 percent, ranking among the lowest globally compared to major economies such as the United States at 120 percent and Japan at 250 percent, according to data cited by Kadin Indonesia Advisory Council Chairman Hashim Djojohadikusumo during the opening of the Kadin Indonesia Rapimnas at Hotel Borobudur, Jakarta, on October 29, 2026.

Dismissing Social Media Claims of Financial Collapse

Social media narratives warning that Indonesia faces economic collapse due to crushing national liabilities are entirely false. That is the assessment delivered by Hashim Djojohadikusumo, who also serves as the President’s Special Envoy for Climate Change and Energy, while addressing business leaders at the national leadership meeting. Banyak yang persoalkan utang negara. Indonesia gelap karena Indonesia dibebani utang, ternyata itu bohong! Nggak, ini maaf ya, di sosial media banyak yang bohong, ujar Hashim.

The International Monetary Fund and the World Bank place Indonesia’s total debt-to-GDP ratio—encompassing both government and private sector obligations—at 40% or 41%. Regional neighbors carry substantially heavier burdens. Malaysia sits at 61 percent, Vietnam at 57 percent, and Thailand at 54 percent. Global superpowers record even higher figures, with China at 268 percent. Itu kenyataan. Malaysia 61% dari GDP. Vietnam 57%, Thailand 54%. Amerika 120%. Jepang 250%. China 268%. Indonesia 40%. Ini adalah kekuatan kita.

These international benchmarks directly contradict online warnings that paint the country’s fiscal standing in dark terms. Yet debt figures represent only one dimension of the current economic debate.

Indonesia Trails Neighbors in Tax Collection Ratios

Indonesia trails behind neighboring nations in gathering state revenue relative to the size of its economy. Hashim highlighted the country’s tax collection ratio at 12 percent of Gross Domestic Product, contrasting sharply with Cambodia at 18 percent, India at 20 percent, and certain African nations at 16 percent. Sebagai bangsa kita tidak dibawah Kamboja. Kita sekarang kurang pungut Rp1.500 triliun, kata Hashim.

Given that Indonesia possesses a significantly larger economy than Cambodia, the disparity translates to an under-collection of approximately Rp1,500 trillion, derived from a 6 percent gap applied against a recorded GDP of Rp25,000 trillion. Hashim attributed a portion of this shortfall to an estimated Rp10,000 trillion in unrecorded economic activity, citing World Bank estimates. Cash transactions for everyday services—ranging from barbers and massage therapists to local food stalls operating without receipts—frequently evade the 11 percent Value Added Tax. Berarti, ada kurang lebih Rp 10 ribu triliun yang tidak tercatat, ungkap Hashim. Kalikan ratusan juta dan sebagian-sebagian jumlahnya, termasuk mungkin warung tegal, beauty salon, semua transaksi itu berupa tunai. Itu kurang lebih menurut Bank Dunia Rp 10 ribu triliun, ujarnya.

If tax and customs authorities captured these unrecorded transactions effectively, the state budget deficit—currently hovering between Rp 500 trillion and Rp 600 trillion—would transform into a surplus of Rp900 trillion. Kalau aparat kita, pajak dan bea cukai, bekerja semestinya, seharusnya seperti orang Kamboja, kita surplus tahun ini Rp 900 triliun, betul? katanya.

Digital Taxation Policy Targets Unrecorded Transactions

To capture unrecorded transactions and enforce compliance, the administration of Prabowo Subianto and Gibran Rakabuming Raka scheduled the implementation of a comprehensive digital taxation policy for November 9. The upcoming framework requires state-owned banks, private banks, financial technology firms, and major e-commerce platforms including Shopee, Lazada, and GoTo to collect and remit taxes that previously went uncollected. Semua bank pemerintah, bank swasta, dan semua fintech termasuk Shopee, Lazada, GoTo, dan sebagainya harus ikut pungut dan harus setor pajak yang selama ini tidak dipungut, kata Hashim.

Artificial intelligence and electronic information technology systems will drive the automated collection process to ensure all eligible transactions comply with existing statutory regulations. Government officials intend for these technological upgrades to lift Indonesia’s state revenue collection ratio to match Cambodia’s 18 percent benchmark within the next two to three years. Yang akan dilakukan adalah pajak lewat elektronik, IT, AI akan dipakai. Semua transaksi yang nanti akan dipungut sesuai dengan undang-undang berlaku.

These structural measures serve as a direct response to fiscal criticisms frequently raised by foreign media outlets and analysts, including publications such as Financial Times and The Economist. Rather than indicating an inherent weakness in national finances, the fiscal gap reflects administrative inefficiencies in tax and customs collection that the new digital systems aim to resolve.

Achieving Food Self-Sufficiency Ahead of Schedule

Beyond fiscal metrics, the government recently increased agricultural production to a record level. Indonesia achieved food self-sufficiency three years ahead of its initial target schedule, a strategic milestone that escaped broad public notice according to statements made at the Jakarta forum. Kita semua sudah tahu bahwa Indonesia sudah swasembada pangan. Betul? Sudah tahu semua? 3 tahun lebih cepat dari target. Ini suatu pencapaian prestasi yang banyak orang tidak tahu, jelasnya.

As the administration moves forward with its November digital tax rollout and enhanced revenue enforcement, financial institutions, corporate tax planners, and digital marketplace operators must adapt their reporting infrastructure to comply with automated oversight systems.