The country’s new finance minister is more recognised as a macroeconomist than a fiscal hawk
[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 replaces 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.
