Indonesia’s new finance minister pledges policy continuity
Suahasil Nazara was appointed finance minister earlier this week, becoming the third person to hold the post in less than two years.
JAKARTA: Indonesia's newly appointed finance minister, Suahasil Nazara, emphasized fiscal policy continuity during his first press conference on Friday. He pledged to uphold the 3% fiscal deficit ceiling of GDP and called for constructive discussions on any potential changes to fiscal rules. Suahasil, who replaces Finance Minister Purbaya Yudhi Sadewa, reassured investors that Indonesia's economy remained resilient despite higher global interest rates.
In the January to August period, the country's budget deficit was 240.1 trillion rupiah, equivalent to 0.93% of GDP, and the ministry projected a 2.85% deficit for the entire 2026 fiscal year. Suahasil also pledged to refund taxpayers who had overpaid and maintained the government's policy of keeping a minimum of 200 trillion rupiah in state-owned banks until July 2027.
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