MP Praises Collaboration Between Bahlil and Purbaya in Maintaining Indonesia's Economic Stability
Jakarta – A member of Commission XI of the Indonesian House of Representatives from the Golkar Party faction, Erik Hermawan, has appreciated the collaboration between Energy and Mineral Resources Minister Bahlil Lahadalia and Finance Minister Purbaya Yudhi Sadewa in handling Indonesia’s economy.
According to Erik, Indonesia’s economy is currently facing a double squeeze of internal and external pressures.
“Only Finance Minister Purbaya Yudhi Sadewa and Energy and Mineral Resources Minister Bahlil Lahadalia seem to understand how to handle this crisis so that the public and our economic ecosystem do not become agitated,” said Erik Hermawan in a written statement on Tuesday, 21 April 2026.
According to Erik, Indonesia’s economy is currently facing two fires. First, Erik mentioned internal pressures such as inefficiencies that cause an increase in the budget deficit, leadership in ministries and institutions that have not yet been able to translate the president’s wishes, and external pressures from the Middle East war that cause a global energy crisis.
According to Erik, the collaboration between Bahlil and Purbaya has so far proven effective in keeping subsidised fuel prices for the poor from rising.
“The Energy and Mineral Resources Minister’s promise that subsidised fuel will not increase until the end of the year has calmed the people below,” said Erik.
Erik highlighted Indonesia’s challenging economy by providing several pieces of evidence, namely the rupiah exchange rate pressure against the US dollar, which once touched Rp17,189. The exchange rate is not just a number but an indicator of market confidence in the resilience of the national economy,” emphasised Erik Hermawan, an alumnus of Brawijaya University in Malang.
According to Erik, throughout the period from April 2025 to April 2026, the rupiah recorded a universal weakening. The rupiah’s weakening against the US dollar to the psychological level of Rp17,189 signals a worsening of Indonesia’s fiscal risk profile, considering the burden of foreign debt payments and the swelling cost of energy imports due to the Middle East conflict.
Erik provided evidence regarding the decline in the Composite Stock Price Index (IHSG). The Composite Stock Price Index serves as a barometer of investor sentiment.
At the beginning of 2026, triggered by the escalation of the US-Iran War, the IHSG experienced a shock that confirmed that the triggers of economic pressure problems have not ended.
“If we compare with historical crises, the speed of the decline in 2026 shows a much higher level of market anxiety. This market volatility is exacerbated by internal factors, namely the low ability to translate the president’s vision and mission at the operational level by ministers, such as in navigating contradictory fiscal policies,” said Erik.