Markets can react negatively, but only for a short time. What matters is what Purbaya does in his first week as finance minister,
Jakarta (ANTARA) - Economist Piter Abdullah said Monday that newly appointed Finance Minister Purbaya Yudhi Sadewa and Cooperatives Minister Ferry Juliantono have the capability to carry out their roles after President Prabowo Subianto reshuffled his Cabinet.

Abdullah, who also serves as program and policy director at the Prasasti Center for Policy Studies, said both ministers must prove themselves with policies that surpass those of their predecessors.

“That is what he must show, with stronger policy breakthroughs,” Abdullah said in a phone interview.

He noted that the cabinet reshuffle came amid public pressure following recent mass protests.

The effectiveness of the changes, he added, depends on whether the new ministers meet public expectations.

Indonesia’s benchmark stock index fell 1.28 percent to 7,766.84 after the cabinet announcement. Abdullah said the decline was temporary.

“Markets can react negatively, but only for a short time. What matters is what Purbaya does in his first week as finance minister,” he said.

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Prabowo officially swore in five new Cabinet members during a ceremony at the State Palace in Jakarta.

Purbaya replaced longtime Finance Minister Sri Mulyani Indrawati, while Juliantono succeeded Budi Arie as Minister of Cooperatives and Small and Medium Enterprises.

The president also appointed Irfan Yusuf as Minister of Hajj and Umrah, with Dahnil Azhar as his deputy. The replacement for Youth and Sports Minister Dito Ariotedjo has not yet been announced.

Prabowo also named Muktaruddin as head of the Indonesian Migrant Workers Protection Agency (BP2MI).

The appointments were made under Presidential Decree No. 86P/2025 on the dismissal and appointment of Cabinet members for the 2024–2029 term.



Related news: Prabowo reshuffles cabinet, installs new Finance and Hajj Ministers

Translator: Rahmad Nasution
Editor: M Razi Rahman
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