S&P Global Confirms Indonesia's Sovereign Credit Rating with Stable Outlook

S&P Global Ratings has affirmed Indonesia's sovereign credit ratings at 'BBB' long-term and 'A-2' short-term, maintaining a stable outlook. This decision reflects S&P's expectation that recent declines in Indonesia's fiscal and external metrics will be temporary. The agency anticipates a reversal due to factors like higher commodity prices and stable policy changes, projecting moderate increases in government debt and a widening current account deficit in the coming years.