Little-known Purbaya now faces Indonesia’s biggest fiscal test
The country’s new finance minister is more recognised as a macroeconomist than a fiscal hawk
Add BT as a preferred source
[JAKARTA] As the dust settles on a tumultuous two weeks, Indonesian President Prabowo Subianto has undertaken his first Cabinet reshuffle to restore public trust and investor confidence, appointing veteran economist Purbaya Yudhi Sadewa as his new finance minister.
In a move that surprised foreign investors but was relatively widely expected in Jakarta circles, Dr Purbaya replaced Dr Sri Mulyani Indrawati, one of Indonesia’s longest-serving and most trusted policymakers.
His appointment marks both continuity and uncertainty for South-east Asia’s largest economy, which is grappling with social unrest, surging living costs and mounting fiscal woes.
TRENDING NOW
China narrows AI gap with US as open-source shift could hit valuations: George Yeo
‘So little’?: Why critics of Temasek’s 10.5% returns in a bull run are getting it wrong
Samsung, SK Hynix and leveraged ETFs drive 70% of Korea trading, drawing criticism
Targeted credit relief: Vietnam steers funding to Vingroup, Sun Group, Masterise megaprojects
