Purbaya Criticises Recession Predictions, Urges Economists Not to Speak Rashly

JAKARTA, KOMPAS.com - Finance Minister Purbaya Yudhi Sadewa has highlighted predictions from several economists suggesting that Indonesia’s economy will enter a recession in the near future. Purbaya stressed that he does not reject criticism, but urged that economic analyses be presented with clear data and calculations. “I am not anti-criticism, but do not say that in two months Indonesia’s economy will collapse or enter a recession,” Purbaya stated at the Ministry of Finance office in Jakarta on Wednesday (25/3/2026). Purbaya assessed that the scenario of oil prices reaching 200 US dollars per barrel is unrealistic. “If oil prices reach 200 US dollars per barrel, it would not just be Indonesia; the entire world could enter a recession,” he said. He emphasised that economic analyses need to consider various factors. Historical data and policy responses are deemed important in reading the economic situation. Purbaya also compared Indonesia’s conditions with other countries. The United States is said to also face pressure from rising energy prices. “If we can still maintain it here, that means the calculations must be complete. Do not speak rashly,” he remarked. Purbaya reminded economists to be more cautious in conveying their views. Statements without strong foundations have the potential to trigger negative sentiment. He also alluded to his experience in managing economic policies, which encompasses various periods and challenges. “So, we here have sufficient experience with the finance people here, of course, in overcoming economic problems, and I have certainly studied all kinds of theories,” he explained.