Purbaya confident Ramadan purchasing power maintained, predicts 5.7 percent economic growth

Finance Minister Purbaya Yudhi Sadewa is confident that public purchasing power will be maintained during the Ramadan period and optimistic that economic growth in the first quarter of 2026 will reach 5.7 percent. “The latest figure for economic growth could be 5.6–5.7 percent,” Purbaya told reporters at the Directorate General of Taxation office, Ministry of Finance, Jakarta, on Saturday. Purbaya described this projection as relatively good given the current global economy impacted by the dynamics of the Iran-United States-Israel conflict. The Finance Minister’s optimism stems from his belief that the impact of global turbulence has not yet been felt in the domestic economy. “The global impact here is still not felt because it has been absorbed by the government. So, we are carefully ensuring that the public can carry out normal activities in the current situation. As much as possible, this will be maintained going forward,” he stated. The state treasurer also remains optimistic about economic prospects after Eid al-Fitr. He noted that the national economy could slow if geopolitical tensions continue to escalate. However, Purbaya stated that he will continue to strengthen domestic demand to keep the domestic economy stable. “Even though the global situation is like that, domestic demand remains strong. It might slow down if the (conflict) keeps rising. But I will maintain domestic demand,” he said. Overall, he assessed that the national economy is relatively stable, as evidenced by various economic indicators and his field reviews during Ramadan.