The indicative target of the ORI is set at IDR 15 trillion (USD $1.53 billion), while the target for the global sukuk is yet to be determined.

As a side note, the government proposed an additional issuance of government securities (Surat Berharga Negara or SBN) amounting to IDR 60.878 trillion (USD $6.21 billion) in the 2013 Revised State Budget, an increase of 33.7 percent compared to the target set in the original 2013 State Budget (IDR 180.4 trillion). With the additional bonds, the government proposes a new securities issuance (net) target of IDR 241.3 trillion (USD $24.60 billion) in 2013.

The government will also issue global bonds on the domestic market, amounting to USD 3 billion, as part of its global bond issuance last April. Furthermore, the second round of foreign denominated global bonds for foreign markets is likely to be issued in September-October 2013.

"If the request for the additional IDR 60.8 trillion is approved by the House of Representatives (DPR), the ORI will get an extra allocation of IDR 5 trillion. As such, total ORI will reach IDR 20.0 trillion in 2013," said Robert Pakpahan, General Director of Debt Management at the Ministry of Finance on Monday (27/5).

The issuance of government securities on the domestic market consists of government debt securities (SUN) and government Islamic securities (SBSN). The SUNs that will be applied are Treasury Bills (SPN), regular Government Bonds (ON), and ORI.

The issuance of foreign denominated SBNs in markets abroad are needed to anticipate the occurrence of the crowding out effect in the domestic financial sector if all SBNs would be issued on the domestic market. SBNs issued in foreign markets are also intended as benchmark instruments for the private sector that issues bonds and will be used to finance obligations of the government as well as strengthen the nation's foreign exchange reserves.

Apart from the SBNs, other sources to finance the state deficit are the budget surplus (SAL) that amounts to IDR 30 trillion (USD $3.06 billion) as well as foreign loan programs of IDR 11.1 trillion (USD $1.13 billion).