September 15, 2026 | 10:05 pm
TEMPO.CO, Jakarta - Senior political analyst Boni Hargens said that Indonesian Vice President Gibran Rakabuming Raka's support for Finance Minister Suahasil Nazara actively reinforces positive market sentiment regarding the cabinet reshuffle. This support extends beyond a mere reflection of internal cabinet support.
Following Suahasil's inauguration on Monday, September 14, Gibran expressed his belief that the new official's experience and competence make him the right person to manage the State Budget (APBN) and improve state financial governance.
"Vice President Gibran's statement is strategic because it was delivered at the right time—precisely when the market most needed political certainty," said Boni in a statement on Tuesday, as quoted by ANTARA.
According to him, a signal of solid executive support prevents negative speculation and maintains investor confidence. Boni emphasizes that, in the modern political-economic ecosystem, the public communication of top leaders directly impacts market psychology, rendering it as important as fiscal policy itself.
In addition to commending Suahasil, he noted that Gibran also officially called upon all segments of society to support President Prabowo Subianto's strategic measures to maintain economic stability and boost public confidence.
He argues that the Vice President's call is not merely a matter of protocol. Against the backdrop of cabinet reshuffles—which often trigger market uncertainty—this explicit signal of support from the Vice President carries significant symbolic and political weight, underscoring that the government is operating cohesively and remains focused on the people’s economic interests.
He also views Suahasil's appointment as finance minister as marking a new chapter in Indonesia's fiscal management.
Suahasil—widely known as a senior economist and experienced bureaucrat within the Ministry of Finance—possesses, in his view, an extensive track record in formulating national fiscal policy. "This reshuffle is seen as a consolidation move by President Prabowo to strengthen his economic team in anticipation of increasingly complex global challenges," he stated.
Therefore, he noted, the market response has tended to be positive following the emergence of Suahasil's name as the new Finance Minister—a choice viewed as reassuring by both domestic and international market participants.
Given Suahasil's solid track record, Boni noted that the bond market and the rupiah exchange rate demonstrated relative stability following the announcement, reflecting confidence that fiscal policy would remain prudent and measured.
He said foreign investor confidence in Indonesian financial instruments is also projected to rise, driven by signals that the Prabowo administration is committed to principles of fiscal management that are both conservative and progressive.
Suahasil was inaugurated as the new Finance Minister, as stipulated in Presidential Decree Number 97P of 2026 regarding the Dismissal and Appointment of the Minister of Finance of the Red and White Cabinet for the remainder of the 2024–2029 term, issued on September 14, 2026, by President Prabowo Subianto.
He is the third Finance Minister in President Prabowo Subianto's administration. The previous Minister of Finance, Purbaya Yudhi Sadewa, was inaugurated on September 8, 2025, to replace Sri Mulyani.
Suahasil assumed the role of Deputy Finance Minister on October 25, 2019, in the Onward Indonesia Cabinet led by President Joko Widodo. He was subsequently reappointed to the same position for the Red and White Cabinet led by President Prabowo Subianto for the 2024–2029 term on October 21, 2024.
Read: Purbaya Reluctant to Return to Govt Post After Finance Minister Dismissal
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