Hearing About Financial Market Deepening Since 2000, Purbaya: Not Deep Enough

Jakarta, CNBC Indonesia - Finance Minister Purbaya Yudhi Sadewa has revealed that President Prabowo Subianto has a priority programme aimed at making Indonesia’s stock market resilient and robust. This includes the second point of the Asta Cita programme, which promotes national self-reliance.

Through this programme, Purbaya stated that the Prabowo administration wants the Indonesia Stock Exchange (BEI) to have a deep market, meaning a wide variety of investment instruments, allowing investors numerous options to invest domestically.

Purbaya admitted that the term financial market deepening has been promoted in Indonesia’s stock market for two decades. However, it has not been realised, causing the stock market to frequently fluctuate during global economic pressures.

“I have heard the term capital market deepening since 2000, and until now it is not deep enough. Perhaps we used the wrong shovel; we didn’t dig deep enough. So now we have created the Pintar Programme (Planned and Periodic Investment Programme). I don’t know if this will be good or not,” said Purbaya at the launch of the Pintar Mutual Fund Programme at the BEI Building, Jakarta, on Monday (27/4/2026).

The government, he said, has taken its own steps to strengthen the deepening of the financial and stock markets in Indonesia. One of them is by maintaining a solid economic foundation that can continue to grow rapidly over time.

“We are designing faster economic growth, and even faster, and we are serious about it,” Purbaya explained.

To accelerate growth to an average target of 8% by the end of President Prabowo Subianto’s term in 2029, he said the government will speed up the development agenda, thereby strengthening the market.

“So if previously the economic growth was 5%, 5.5% a bit, going forward we will grow even faster. What was the growth last time? 5.39%. The first growth might be above 5.5%,” Purbaya stated.