Indonesia Finance Minister Purbaya Rejects Himbara's SAL Tenor Extension

Finance Minister Purbaya Yudhi Sadewa declined Himpunan Bank Milik Negara’s (Himbara) request to extend the tenor of the Saldo Anggaran Lebih (SAL) placement to one year. He explained that the current arrangement – Rp200 trillion kept until the end of 2026, Rp100 trillion reviewed every three months, and Rp100 trillion flexible for on‑call use – already provides sufficient liquidity for banks while preserving the government’s ability to draw funds when needed.

Purbaya warned that a longer tenor could “mengganggu kesiapan pemerintah mengantisipasi kebutuhan dana di luar rencana anggaran.” He added that Bank Indonesia will replenish liquidity gradually if the government withdraws funds, keeping money supply stable. The minister also projected the 2026 APBN deficit could widen to Rp734.3 trillion (2.85% of GDP). Himbara had argued that a longer placement would help banks channel money to productive sectors, especially micro, small and medium enterprises, but the finance ministry maintained its current flexible scheme.

Key quotation: “Jadi yang Rp200 triliun sampai akhir tahun, yang Rp100 triliun tiga bulan sekali dilihat, yang Rp100 triliun keluar masuk, fleksibel,” said Purbaya.