Indonesia’s new ‘cowboy style’ finance minister bets big on growth

Indonesian Finance Minister Purbaya Yudhi Sadewa waving after his inauguration at the presidential palace in Indonesia on Sept 8.

REUTERS

Arlina Arshad

and

Wahyudi Soeriaatmadja

Indonesia's new Finance Minister Dr Purbaya replaced Dr Sri Mulyani on Sept 8, prompting market unease and controversy over his “cowboy style” communication.
Dr Purbaya said he aims for 6 to 7% growth via faster government spending, and shifting 200 trillion rupiah from the central bank to commercial banks.
Critics however warned that Dr Purbaya's "reflation" policy, driven by political ties, risks market instability despite his intent to stimulate the economy.

AI generated

JAKARTA – Indonesia’s new finance minister, Dr Purbaya Yudhi Sadewa, has made a stormy start in office.

The 61-year-old, who describes his communication as “cowboy style”, provoked backlash just hours after his Sept 8 swearing-in by dismissing

as a “small segment” of society who are “unhappy with their lives”.