APBN 2026 Reflection: Fiscal Strategy to Reclaim Essence Amid Global Turbulence
At the close of Ramadan 1447 Hijriah, public anxiety feels increasingly palpable. The world is entering a phase of complex uncertainty: geopolitical conflicts, energy price volatility, and global financial market turbulence.
In such circumstances, a country’s economic stability is tested not only by market forces but also by the quality of policy strategies adopted.
Pressure on the rupiah at the start of 2026 serves as a reminder that the national economy never stands alone. It is always caught in the whirl of rapidly moving global dynamics.
Therefore, the APBN is not merely an annual fiscal document but also a strategic instrument that determines the direction of development and the nation’s economic resilience.
It is here that Ramadan brings a reflective perspective. Islamic tradition calls it muhasabah, an honest process of self-evaluation to improve future steps.
Imam Al-Ghazali in his book Ihya Ulumuddin (2005) explains that muhasabah is an effort to weigh past actions so that humans can better improve the future.
If individuals perform muhasabah ahead of Eid al-Fitr, then the state too should do the same with its fiscal policies.
From a strategic management perspective, fiscal muhasabah can be understood as a strategy evaluation process. Fred R. David explains that strategy evaluation is an important stage to assess whether implemented policies remain relevant to changes in the environment faced by the organisation (David & David, 2017).
In the context of the state, this evaluation is reflected in the government’s ability to adjust budget priorities to global economic dynamics.
The structure of the APBN 2026 shows no light challenges. The government has designed state revenues of around Rp3,153.6 trillion with state expenditures reaching around Rp3,842.7 trillion.
Thus, the budget deficit is estimated at around Rp689.1 trillion or about 2.68 percent of GDP (Ministry of Finance, 2025).
The government targets keeping the deficit below the constitutional limit of 3 percent, as a form of fiscal discipline to maintain national economic credibility.