Analisis Keberlanjutan serta Pengaruh Surat Berharga Negara dan Faktor Lainnya terhadap Pertumbuhan Ekonomi di Indonesia

Government Securities (SBN) is one of the instruments that dominates in financing deficit State Revenue and Expenditure Budget (APBN) Indonesia. This line with government's efforts to continuously improve financial independence. The purpose this study analyze effect SBN other factors on economic growth through government spending, condition debt sustainability Indonesia using data for period 2004-2019. analytical method used uses a simultaneous equation model. increase has significant positive increasing types capital expenditures TKDD expenditures. did not subsidies personnel spending. Capital spending highest elasticity among Indonesia's tends show sustainable condition, because an followed by primary balance, productive expenditures, thereby state revenues.