Purbaya Urges Stock Grab: Many Unaware Our Economy is Accelerating

JAKARTA, KOMPAS.com - Finance Minister Purbaya Yudhi Sadewa has urged the public to “sweep up” stocks whose prices are currently falling. He stated that Indonesia’s economy is experiencing acceleration, so conditions will improve in the future. “I’ve been saying it before: sweep them up, sweep them up. If they follow, they should profit greatly in the future,” Purbaya said during a press conference at the Palace in Jakarta on Tuesday evening (5/5/2026). However, Purbaya noted that many people are unaware of this situation and are instead exiting the capital market. “Our economy is undergoing acceleration, which many people don’t realise, so they’re a bit scared and leaving the capital market,” he said. Meanwhile, Purbaya indicated that the government will prepare additional stimulus to boost economic growth in the second quarter of 2026. The stimulus is planned to start running around 1 June, in coordination with the central bank to maintain liquidity. “We will provide additional stimulus to the economy, which won’t be long before it’s announced. It might start on 1 June,” Purbaya said. He explained that there is a narrative circulating on social media that does not align with official data showing the economy is still growing solidly. In fact, based on the release from the Central Statistics Agency (BPS), Indonesia’s economy in the first quarter of 2026 grew by 5.61 per cent year-on-year (yoy). “Far from recession, it’s even rising, let alone a crisis. Many say we’re heading for ruin, but the predictions are wrong,” Purbaya said during the APBN KiTa press conference in Jakarta on Tuesday (5/5/2026). The state treasurer highlighted the prevalence of narratives on social media, particularly TikTok, that equate the current situation with the 1997-1998 monetary crisis. Purbaya emphasised that the current conditions actually show the economy is still in an expansion phase, unlike the 1998 situation marked by prolonged contraction that triggered a political crisis. “We’re still in expansion, still accelerating. So don’t just make up stories; look at the real data,” he said.