Purbaya: Indonesia Far from Crisis, Economy Accelerating Instead
Finance Minister Purbaya Yudhi Sadewa has emphasised that Indonesia’s economy is far from a crisis, even as global conditions heat up due to the conflict between the United States and Iran. He assessed that several domestic indicators are showing positive trends, including an increase in public consumption.
According to Purbaya, the surge in consumption during the 2026 Eid period is evident from heightened public mobility and high shopping activity across various regions.
“Who says crisis? So we are far from crisis. During Eid, everywhere is congested. Everyone is shopping in all places. That means purchasing power is there,” said Purbaya in Jakarta on Friday (27/3).
He claimed that based on various economic indicators, Indonesia is currently experiencing accelerated growth, while also being able to mitigate the impact of rising world oil prices through the State Revenue and Expenditure Budget (APBN) instrument.
According to him, the existing indicators show an increasingly rapid economic movement, while global oil price pressures can be absorbed through the APBN. With that condition, he affirmed that Indonesia is still far from crisis and continues to be in an expansion trend.
“If you look at the existing indicators, we are indeed moving faster. So, we are quite capable of mitigating the high world oil prices. We are far from crisis, we are even continuing to expand,” said the state treasurer.
The Finance Minister emphasised that Indonesia’s current economic condition does not show signs of slowdown, let alone recession. On the contrary, the national economy is said to be in an acceleration phase.
Purbaya stressed that his optimism is not baseless, but rather based on data and policies implemented by the government.
Referring to several surveys, such as consumer surveys, Purchasing Managers’ Index (PMI), and vehicle sales data, which he said show an upward trend.
“So it’s not that I am optimistic, I am looking at the data. Not even recession, not even slowing down. We are experiencing acceleration. And I will keep guarding it, we will keep guarding it together going forward,” Purbaya asserted.
“I see from consumer data, consumer surveys, PMI surveys, car and motorcycle purchase surveys, they say it’s rising,” he added.
In addition, the government is also ensuring that state spending runs on time while continuously striving to improve the business climate to encourage economic growth. These efforts are carried out by optimising the role of fiscal and monetary policies to mobilise the private sector. With these steps, the government believes that economic growth of up to 6% is not difficult to achieve.
“I ensure that government spending is on time. I strive to improve the business climate as optimally as possible. But basically, if I can run the fiscal engine and the monetary engine that moves the private sector, growing 6% should not be too difficult. Above the book, yes,” he stated.
Nevertheless, the Finance Minister acknowledged that in the field, various additional boosts are still needed for economic growth to proceed even faster. However, he assured that the main engines driving the economy are already running.
“In the field, we need boosts like other things to make it even faster. But clearly, the engines (of the economy) have been started by us. So almost certainly we are not heading towards recession, let alone crisis,” Purbaya concluded.