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Indonesian Finance Minister appointment and fiscal outlook

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2026-10-19 18:11 UTC → 2026-10-23 04:34 UTC · added ~~removed~~

President Prabowo Subianto ~~has~~ appointed Suahasil Nazara as Indonesia’s new Minister of ~~Finance,~~ Finance on September 14, 2026, succeeding Purbaya Yudhi Sadewa. ~~Nazara~~ Nazara, a former Deputy Finance Minister, is tasked with maintaining the health of the State Budget (APBN), keeping the fiscal deficit below 3 percent, and supporting an 8 percent economic growth goal. During his inauguration, President Prabowo emphasized a commitment to anti-corruption, stating he would not provide protection to those close to him. Nazara’s early priorities included discussing potential reshuffles within the Directorate General of Taxes and Customs to improve synergy. As of mid-October 2026, the Ministry of Finance ~~reports that~~ reported state revenue reached Rp2,341.5 trillion, driven by a 24.1 percent increase in tax revenues. Minister Nazara stated the deficit remains “on track” with a year-end target of 2.8 percent of GDP. To support economic activity, Nazara ~~announced that state budget spending for the fourth quarter of 2026 is~~ projected fourth-quarter 2026 spending to reach Rp1,300 ~~trillion, an increase from the Rp1,200 trillion spent in the same period in 2025. He clarified that while the government is implementing efficiency measures,~~ trillion. In late October 2026, the ~~focus is on ensuring planned outputs are achieved optimally~~ Presidential Advisory Council (Wantimpres) met with Nazara to ~~stimulate consumption~~ discuss the APBN structure and ~~strengthen~~ fiscal directions for 2026 and 2027, focusing on allocations for social ~~protection.~~ protection, education, health, and food security. Regarding procurement, the National Public Procurement Agency (LKPP) projects 2026 government ~~procurement~~ spending to reach Rp929.4 ~~trillion, roughly 30 percent of the total APBN.~~ trillion. LKPP Head Sarah Sadiqa noted that as of October 13, 2026, transactions for domestic products reached Rp389.2 trillion, accounting for 91.3 percent of total provider transactions. ~~Sadiqa emphasized the importance of involving Micro, Small, and Medium Enterprises (MSMEs) to ensure government spending drives production, creates jobs, and strengthens national industry.~~

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