President Prabowo Subianto officially appointed Suahasil Nazara as Indonesia’s new Finance Minister on 14 September 2026 during a swearing-in ceremony at the State Palace in Jakarta. He replaces Purbaya Yudhi Sadewa, who had served in the position since September 2025.
The appointment was formalised through Presidential Decree No. 97/P of 2026 concerning the dismissal and appointment of the Finance Minister for the remainder of the 2024–2029 term.
Following his inauguration, Suahasil said President Prabowo had specifically instructed him to maintain the health and credibility of state finances, particularly the State Budget (Anggaran Pendapatan dan Belanja Negara or APBN).
“The specific directive from the President is to safeguard state finances. This means maintaining their health and upholding their credibility,” Suahasil said, as quoted by Antara News.
Suahasil also pledged to keep Indonesia’s fiscal deficit below the statutory ceiling of 3% of gross domestic product, while ensuring that the budget continues to support government priority programs, economic growth, and stability.
He indicated that the leadership change would not result in a major shift in the Finance Ministry’s policy direction. “In my view, this is not a change, but simply a continuation,” Suahasil said, as quoted by Antara News, adding that he had already been part of the ministry and would continue the work underway.
The appointment was also followed by a relatively stable market response. Rahma Gafmi, Professor at Airlangga University’s Faculty of Economics and Business, said the transition had been met with relatively stable and slightly positive sentiment, with Suahasil’s previous experience at the ministry contributing to expectations of policy continuity.
Gafmi said market participants were familiar with Suahasil’s track record and approach to fiscal discipline, while fiscal certainty and the credibility of the APBN remained central considerations for investors.
Separately, Phintraco Sekuritas Head of Research Ratna Lim said the appointment was expected to support fiscal credibility and discipline, including maintaining the budget deficit below the 3% statutory limit. She also pointed to Suahasil’s long tenure as Deputy Finance Minister and familiarity with the structure of the state budget as factors that could support continuity in fiscal-policy implementation.
Before becoming Finance Minister, Suahasil served as Deputy Finance Minister from 2019, continuing in the position under President Prabowo’s administration from October 2024. He previously headed the Finance Ministry’s Fiscal Policy Agency from 2016 to 2019.
Suahasil is also an economist and academic. He earned his bachelor’s degree in economics from the University of Indonesia in 1994, a Master of Science from Cornell University in 1997, and a Ph.D. in economics from the University of Illinois at Urbana-Champaign in 2003. He became a professor of economics at the University of Indonesia in 2009.
The formal handover from Purbaya to Suahasil took place at the Finance Ministry on 15 September 2026, marking the transition in leadership following the previous day’s inauguration.
