"We will see how the situation develops," Hartarto said after a meeting with President Prabowo Subianto in Jakarta on Tuesday.
He emphasized that Indonesia's economic fundamentals remain strong.
The IDX closed weaker on Tuesday afternoon, continuing its morning decline. The IHSG fell by 138.24 points, or 1.78 percent, to 7,628.61. Meanwhile, the LQ45 index slipped by 13.66 points, or 1.74 percent, to 769.93.
The index had already shown weakness during Monday’s trading, with concerns mounting following President Prabowo Subianto’s decision to replace Sri Mulyani with Purbaya Yudhi Sadewa as Finance Minister.
According to Sadewa, the market’s negative reaction to his appointment is a normal occurrence. However, he assured the public of his experience in navigating such situations.
“The IHSG going down is normal. Maybe investors are concerned, but I have been in the market for more than 15 years. I know very well how to strengthen the economy,” he said on Monday.
Sadewa expressed optimism that the market will stabilize within one or two weeks.
Separately, the Pilarmas Investindo Sekuritas Research Team stated that investors are waiting to see Sadewa’s fiscal policies.
“Market players are adopting a wait-and-see approach toward Finance Minister Purbaya Yudhi Sadewa’s policies. They are looking for consistency in fiscal direction and his ability to synergize and communicate with monetary authorities to maintain market trust,” the research note explained.
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Translator: Genta Tenri Mawangi/Fathur Rochman, Mecca Yumna
Editor: M Razi Rahman
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