Rebuking Economists, Purbaya: If You Don't Understand, Don't Scare People

Jakarta, CNBC Indonesia - Finance Minister Purbaya Yudhi Sadewa has warned economists who frequently convey negative sentiments to the public, stating that Indonesia’s economy will collapse without utilising clear data and calculations.

“I am not against criticism, that’s fine. But don’t say things like this: in two months, Indonesia’s economy will collapse. It will be in recession,” said Purbaya at his office in Jakarta on Wednesday (25/3/2026).

According to Purbaya, statements claiming Indonesia’s economy will collapse in the next two months are based on incorrect economic calculations.

He stated that economists predicting Indonesia’s economy will collapse in two months only consider the rise in global oil prices due to the conflict in the Middle East.

“The reason is because oil prices will reach 200 dollars per barrel, the rupiah will be tens of thousands, yes, if that’s the case, if oil prices are 200 dollars per barrel, the whole world will be in recession, relax, no need to worry,” said Purbaya.

“So the assumption is unreasonable. So that’s not a proper economist,” he emphasised.

Purbaya said that if the economist calculates risk factors correctly, they would consider all risk estimates, from historical data to government policies that have been made in responding to global pressures.

“Look at it. Even now, America is already struggling, right? At 100 dollars there, fuel prices have risen almost 100%, the people are starting to get angry. That’s why Trump’s steps are a bit different, right? Could it reach 150? Trump would fall already. It’s not us who fall, but there,” explained Purbaya.

“If we can still maintain it here. So that’s the calculation. If economists are like that, don’t make assumptions. If you don’t understand, go back to school, especially those professors, they never went to school,” he revealed.