Indonesia names Suahasil Nazara as new finance minister
President Prabowo Subianto replaced Purbaya Yudhi Sadewa with his deputy, who has pledged policy continuity and a deficit kept below 3% of GDP.
Indonesian President Prabowo Subianto has appointed Suahasil Nazara as the country's new finance minister, replacing Purbaya Yudhi Sadewa. Nazara was sworn in at the State Palace in Jakarta on 14 September.
An economist and academic born in Jakarta in 1970, Nazara had served as deputy finance minister since October 2024 before his appointment.
A pledge of continuity
Following his inauguration, Nazara told capital market players not to expect a major shift in the finance ministry's direction, describing his appointment as a continuation of policies already underway, and pledged to keep the fiscal deficit below 3% of GDP.
The change in Jakarta comes as Indonesia, Southeast Asia's largest economy, works to sustain growth momentum while managing debt and spending pressures, a dynamic closely watched across the region, including in Singapore.
Sources: US News, ANTARA News
