appConfigEntityId

bodyType

customContents

entityId

entityUuid

isVideo

articlePageQuery

article

articleSchemaContent

content

hooksArticlePageAdvertisementConfigArticle

hooksArticlePageFloatingButtonConfigArticle

appConfig

filter

json

liveArticle

Reuters

Purbaya ⁠Yudhi Sadewa, who was sacked as Indonesia’s finance minister this week, said on Tuesday he was upset to be removed from his job, but was half expecting the decision.
President Prabowo Subianto abruptly removed Purbaya as finance minister on Monday and named his deputy, Suahasil Nazara, to the top finance job, in a move that surprised markets but was ‌also seen as an attempt to restore trust in financial policies.
After a terse handover ceremony at the finance ministry, Purbaya told reporters he found out about his termination in a phone call with the president’s spokesman Prasetyo Hadi on Monday.
Purbaya was seen receiving a phone call and leaving in the middle of a parliamentary meeting just hours before Suahasil was sworn in.
“Last night, going to sleep was difficult. I was upset, but now it’s not too bad,” Purbaya told reporters.
“Tonight I can sleep soundly,” ⁠he said, adding he had half expected to be fired over a recent decision he took. He did not elaborate.
While he said he ‌had no policy disagreement with the president, Purbaya said his sacking partly had to do with differences with other officials.
Prabowo’s sacking of Purbaya came just days after the former economist marked one year as finance minister, ‌with Southeast Asia’s largest economy suffering a crisis of confidence among investors and analysts.

Prabowo’s fiscal policies have been under ⁠scrutiny since he came to power ⁠in October 2024 because of costly campaign promises.
Known for his candour, Purbaya’s tenure was marked by the fastest economic growth in three years, but also the widest budget deficit ‌in over 20 years outside the pandemic and credit rating outlook downgrades by ratings agencies Fitch and Moody’s.
Capital outflows have also intensified this year, pushing the rupiah to an ‌all time ‌low, triggered by concerns about financial profligacy, central bank interference and transparency issues in capital markets, on top of global risk aversion ‌due to the war in the Middle East.
Purbaya said his tenure was “decent”, citing rising economic growth. He said he would spend his retirement ⁠fishing in a pond at the back of his house.
Speaking at the handover ceremony, Suahasil asked all stakeholders to ⁠open their doors for collaboration. He has pledged to safeguard Indonesia’s fiscal credibility and abide by the legislated fiscal deficit limit of 3 per cent of gross domestic product.
A veteran technocrat, Suahasil, 55, is well known to investors and analysts, some of whom said ‌he would likely reassure investors.
Shinta Kamdani, who ‌chairs business group Indonesia’s Employers Association, said Suahasil should provide policy continuity and institutional understanding.
“We hope this continuity will help ensure that the leadership transition does not lead to a sudden shift in policy direction,” she said.
Shinta said the business community understood the importance of a healthy budget and its limited financial space, but government support to bolster growth remained important to maintain purchasing power, boost investment and increase the nation’s productivity.


Named as an enemy: Indonesia’s uneasy Aukus moment

Malaysia deploys air force aircraft for cloud seeding to combat worsening haze

Why the Global South keeps its doors wide open to Russia

Pride or practicality? Indonesia receives first aircraft carrier amid fears of upkeep cost

Indonesia

Indonesian finance minister found out about his firing in mid-meeting phone call

Purbaya ⁠Yudhi Sadewa, who was sacked as Indonesia’s finance minister, addresses the media in Jakarta on Tuesday. Photo: Reuters

Indonesia’s newly appointed Finance Minister Suahasil Nazara (left) shakes hands with his predecessor Purbaya Yudhi Sadewa during a handover ceremony in Jakarta on Tuesday. Photo: Reuters

Indonesia’s Prabowo appoints third finance minister in under 2 years

Newly-appointed Finance Minister Suahasil Nazara speaks to journalists after his inauguration at the Presidential Palace in Jakarta, Indonesia on Monday. Photo: Reuters

Indonesia’s President Prabowo Subianto at the Brics summit in New Delhi on Sunday. Prabowo has ‌made ‌several cabinet changes since ‌taking office almost two years ago. Photo: AFP

Indonesia’s former finance minister Purbaya Yudhi Sadewa speaks during an interview in Jakarta on March 3. Photo: Reuters

Newly appointed Indonesian Finance Minister Suahasil Nazara takes his oath during an inauguration ceremony at the presidential palace in Jakarta on Monday. Photo: EPA

Indonesia’s strong GDP data prompts ‘resilient but uneven’ growth forecasts

Containers being stacked at Tanjung Priok Port in Jakarta. Photo: AP

A student carries meal trays in June as part of the free nutritious meals programme in Bandung, Indonesia. Photo: Xinhua

A teller handles rupiah banknotes at a money changer in Jakarta. The rupiah rose on Wednesday following the release of better-than-expected GDP data. Photo: Reuters

People pick up chilli peppers at a traditional market in Banda Aceh. Household consumption was one of the main drivers of Indonesia’s economic growth in the second quarter. Photo: EPA

News

Asia

Southeast Asia

Purbaya ⁠Yudhi Sadewa said he was ‘upset’ over losing the top finance job, a move that also surprised markets


Purbaya ⁠Yudhi Sadewa said he was ‘upset’ over losing the top finance job, a move that also surprised markets.


Prabowo Subianto

Indonesian finance minister found out about his firing in mid-meeting phone call

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Purbaya ⁠Yudhi Sadewa said he was ‘upset’ over losing the top finance job, a move that also surprised markets

Purbaya ⁠Yudhi Sadewa said he was ‘upset’ over losing the top finance job, a move that also surprised markets