Finance Minister Checks Tanah Abang Market to Confirm Indonesia is Far from Crisis

Jakarta – Finance Minister Purbaya Yudhi Sadewa visited Tanah Abang market in central Jakarta on Monday, 9 March 2026, to verify the actual state of consumer spending amid public debate over Indonesia’s economic condition. The minister said he conducted the field inspection to assess claims by economists that the country faces recession, collapsing purchasing power, and declining market activity.

“Many economists say we’re in recession, purchasing power is destroyed, and the market is empty with no buyers,” Purbaya said at the market. “I wanted to check because according to our data, the economy is performing well. Tanah Abang should show various purchasing activities. I wanted to verify whether this is true.”

The minister explained that government data indicates Indonesia’s economy remains on a positive trajectory. He noted that major commercial centres such as Tanah Abang should continue to demonstrate robust buying and selling activity.

Upon arrival at the market, Purbaya observed significant crowds and commercial activity in the trading area, which he characterised as evidence of ongoing economic circulation amongst the public. “It turns out to be true – purchasing power still exists, people are still shopping, and the market remains bustling. When I arrived, many people suddenly gathered. It means many around us are shopping,” he said.

The minister concluded that these conditions demonstrate improving consumer purchasing power and that Indonesia’s economy remains far from crisis. “It seems consumer purchasing power is improving and we are not in recession. We are far from crisis,” Purbaya stated.

The minister also assured the public that government would maintain economic stability, including managing potential impacts from rising global oil prices. “The economy is performing well. My friends need not worry. If global oil prices rise, we will try to absorb the impact through the state budget and control it as much as possible,” he said.