Analisis Dilema Utang Luar Negeri Dan Kemandirian Fiskal: Strategi Pembiayaan Pembangunan Di Negara Berkembang Periode 2020-2025

Zebua, Agusman Niat Berkat

Jurnal Ilmu Ekonomi dan Bisnis (JUKONI)
Vol. 3 No. 1 (2026): JUKONI - Februari

This study examines the complex relationship between dependence on foreign debt and accelerated economic development. Amidst low tax ratios, many developing countries use debt as a financing gap-filling instrument. Using a desk study and secondary data analysis for the 2020-2025 period, the study shows that while debt can stimulate short-term growth through infrastructure development, the high interest burden risks creating a debt overhang that hinders fiscal independence. Digitizing the public financial system is proposed as a key strategy to strengthen domestic revenues.