Prabowo Summons Finance Minister Purbaya and BI Governor to Palace
President Prabowo Subianto convened a limited cabinet meeting, or ratas kabinet, at the State Palace in Jakarta on Tuesday, 10 March, bringing together Finance Minister Purbaya Yudhi Sadewa, Bank Indonesia Governor Perry Warjiyo, Energy and Mineral Resources Minister Bahlil Lahadalia, and several other cabinet ministers.
Finance Minister Purbaya Yudhi Sadewa stated that close coordination between the government and Bank Indonesia is crucial for maintaining stability of the rupiah’s exchange rate amid global market dynamics. He explained that whilst the Finance Ministry ensures sound economic development and a sufficient state budget, Bank Indonesia monitors exchange rate movements.
“Close cooperation between the government and Bank Indonesia is necessary to maintain exchange rate stability,” Purbaya said. He noted that solid coordination between fiscal and monetary authorities can help cushion the impact of global market volatility.
“If we work together, controlling global market fluctuations is not too difficult,” he added.
Bappisus Head Aries Marsudiyanto acknowledged uncertainty about the meeting’s agenda but confirmed he was summoned by the president. He stated that food supplies ahead of Eid and national energy reserves remain secure.
Ministers and state institution leaders arrived at the State Palace around 14:00 local time. The limited meeting was held in closed session amid global economic dynamics and elevated rupiah-to-dollar exchange rates.
Finance Minister Purbaya Yudhi Sadewa indicated that controlling the rupiah’s exchange rate against the US dollar can still be managed effectively. He noted that the realisation of 2026 civil servant bonuses (THR) stands at Rp11 trillion of the Rp55 trillion total allocation.
Regarding fuel prices, the Finance Minister stated there are currently no plans to raise subsidised fuel prices despite surging global crude oil prices. However, he noted the government would potentially increase subsidised fuel prices should global oil price increases persist.