Three Deputy Finance Ministers Now Appointed, Economists Highlight Risks of Increasingly Complex Fiscal Decisions
The formation of the three Deputy Finance Ministers is now complete after the government appointed Luky Alfirman and Nurkholisoh Ibnu Aman to assist Juda Agung at the Ministry of Finance.
However, the addition of these leadership ranks is deemed insufficient if it only involves a division of portfolios. M Rizal Taufikurahman, an economist from the Institute for Development of Economics and Finance (INDEF), stated that the three-Deputy Minister formation must be able to strengthen the quality of fiscal decision-making.
According to Rizal, the presence of three Deputy Ministers is only valuable if it enhances the Ministry of Finance’s ability to make decisions while simultaneously overseeing their implementation.
“The new formation of three Deputy Ministers is only valuable if it strengthens the Ministry of Finance’s ability to make decisions and supervise their execution,” Rizal said when contacted by ANTARA in Jakarta on Friday, 2 October 2026.
Clear Division of Duties Required
Rizal assessed that the division of tasks among the three Deputy Ministers must be accompanied by real authority and clear accountability. This is necessary to ensure that the presence of three Deputy Ministers does not instead create additional coordination layers within the Ministry of Finance.
He noted that if operational decisions remain concentrated on the desk of Finance Minister Suahasil Nazara, while directorates-general face additional approval layers, coordination costs could potentially increase. Therefore, the division of portfolios must be immediately followed by the establishment of specific authority limits for each Deputy Minister.
Economists Warn of Fragmented Policy Risks
Rizal also highlighted the risk of policy fragmentation if fiscal management is not coordinated holistically. This is because, according to him, state revenue, expenditure, and financing are three interconnected aspects of fiscal management.
“Tax collection that suppresses business activity can weaken future revenue bases, accelerated spending without programme readiness can lead to waste, and additional debt without adequate economic results narrows fiscal space through interest burdens,” Rizal explained.
Under these conditions, the three Deputy Ministers are deemed unable to measure success based solely on their respective field targets. All three must test the consequences of policies collectively, ensuring that achievements in one area do not create problems in other fiscal sectors.
“Each individual should not be judged successful simply because their specific target is met, while the balance of the State Budget (APBN) deteriorates,” he added.