Prabowo Summons Bank Indonesia Governor, Finance Minister and Energy Minister to Palace
Jakarta — President Prabowo Subianto summoned several ministers and leaders of state institutions amid mounting economic pressures on Indonesia, stemming from conflict in the Middle East.
Recently, the Rupiah weakened significantly, nearly touching the level of Rp 17,000 per US dollar, whilst global oil prices also briefly exceeded US$ 100 per barrel.
According to CNBC Indonesia’s monitoring, the meeting was attended by Bank Indonesia Governor Perry Warjiyo, Finance Minister Purbaya Yudhi Sadewa, and Energy and Mineral Resources Minister Bahlil Lahadalia.
Whilst reluctant to disclose the detailed discussions, Bahlil indicated the meeting would address preparations for food and fuel supplies ahead of Idul Fitri, in response to developments related to the Middle East conflict.
“Yes, we were invited to a meeting by the President today. I’ll provide information on what was discussed after the meeting, but my sense is it still relates to preparations for Eid al-Fitr and food availability, then fuel, and also how to respond to current developments regarding tensions in the Middle East, because as we know, yesterday oil prices rose above US$ 100 per barrel and today they have already fallen below US$ 100, around US$ 80-90, so there are very rapid fluctuations,” Bahlil said.
For his part, Perry declined to comment on what was discussed with the president. Similarly, when asked about interventions Bank Indonesia has undertaken amid Rupiah weakness that nearly reached Rp 17,000 per US dollar yesterday, he merely said thank you.
Purbaya likewise declined to discuss what was addressed with the president, stating: “I don’t know yet.”
However, Purbaya said he would seek guidance regarding fiscal stability, though he did not elaborate further. “We’re being cautious, and I will also ask about fiscal stability,” he said.
When asked about the Rupiah’s weakening, Purbaya stated that Indonesia’s economic fundamentals remain capable of managing the currency. This is achieved by ensuring liquidity within the banking system, along with close monitoring by Bank Indonesia.
“Therefore, smooth cooperation between the government and Bank Indonesia is necessary to maintain exchange rate stability,” Purbaya said.
Indonesia’s current fuel reserves are also described as secure through the Idul Fitri celebrations, as the 2026 state budget assumes fuel prices at US$ 70 per barrel for subsidy calculations, whilst according to Purbaya, the recent fluctuations have lasted only a few days.
“We are still secure and strong. This increase has only been for a few days. Our subsidies are for the full year. We assume an average of 70 per year. This has only been for a few days,” Purbaya said.
The meeting also appeared to be attended by Coordinating Minister for Food Zulkifli Hasan, Marine and Fisheries Minister Sakti Wahyu Trenggono, Head of the Development Control and Special Investigation Agency Aris Marsudiyanto, and Science, Technology and Higher Education Minister Brian Yuliarto.