ZOAHARIAN.COM – President Prabowo Subianto officially reshuffled the Red and White Cabinet on Monday (14/9/2026). One of the most attention-grabbing changes occurred at the Ministry of Finance.

Purbaya Yudhi Sadewa was officially dismissed from his position as Minister of Finance. His position was later replaced by Prof. Suahasil Nazara who previously served as Deputy Minister of Finance.

This change also ends Purbaya's tenure as state treasurer, which lasted about one year. Previously, Prabowo trusted Purbaya to replace Sri Mulyani Indrawati as Minister of Finance.

SAL Policy in the Spotlight

While leading the Ministry of Finance, Purbaya faced various national economic dynamics. One of the policies that has received the most attention is the move to transfer and disburse Excess Budget Balance (SAL) funds that were previously placed in Bank Indonesia to a number of state-owned banks or Himbara.

This policy is intended to optimize liquidity and encourage fund circulation in the banking sector. However, this step also gave rise to debate among economists and market players regarding the effectiveness of the policy and its impact on monetary stability and the national economy.

Purbaya, Technocrat with a Background in Electrical Engineering

Purbaya Yudhi Sadewa has had a quite different academic journey compared to many officials in the fiscal sector.

He is a graduate of Electrical Engineering at the Bandung Institute of Technology (ITB). After that, Purbaya continued his education at Purdue University, United States, and earned a Master of Science (MSc) and PhD in economics.

Before being trusted to become Minister of Finance, Purbaya held a number of strategic positions.

He once served as Chairman of the Board of Commissioners of the Deposit Insurance Corporation (LPS). Apart from that, Purbaya was Deputy for Maritime Sovereignty and Energy Coordination at the Coordinating Ministry for Maritime Affairs and Investment from May 2018 to September 2020.

Previously, from July 2016 to May 2018, he was also trusted as Special Staff for Economic Affairs of the Coordinating Minister for Maritime Affairs.

Suahasil Nazara becomes Minister of Finance

Meanwhile, the seat of Minister of Finance is now occupied byProf. Suahasil Nazara, S.E., M.Sc., Ph.D.

Suahasil's appointment has a legal basis through Presidential Decree (Keppres) Number 97/P of 2026 which was stipulated and signed by President Prabowo Subianto on September 14 2026.

This presidential decree also determines the dismissal of Purbaya Yudhi Sadewa and the appointment of Suahasil Nazara as Minister of Finance for the remaining term of office for the 2024–2029 period.

"First, dismiss... Second, appoint Prof. Suahasil Nazara, PhD as Minister of Finance for the remaining term of office for the 2024-2029 period," reads the excerpt from the Presidential Decree.

With this appointment, Suahasil leaves the position of Deputy Minister of Finance which he has held since 2019.

Not a New Face at the Ministry of Finance

Suahasil is not a new figure in Indonesia's fiscal management. He has long experience in the fields of economics, academics and government bureaucracy.

Suahasil earned a Bachelor of Economics degree from the University of Indonesia in 1994, then obtained a Master of Science degree from Cornell University in 1997. His doctoral education was completed at the University of Illinois at Urbana-Champaign, United States, and was completed in 2003.

He was then confirmed as Professor of Economics at FEB UI in 2009.

His career in government is also quite long. Suahasil was previously Head of the FEB UI Demography Institute, Coordinator of the TNP2K Policy Working Group of the Vice President's Secretariat, and a member of the National Economic Committee.

Within the Ministry of Finance, Suahasil was trusted as Acting Head of the Fiscal Policy Agency (BKF) in February 2015 before being definitively appointed in October 2016.

He was then first appointed as Deputy Minister of Finance on October 25 2019 during the era of President Joko Widodo. This position was re-entrusted to him by President Prabowo on October 21 2024.

Now, this long experience has brought Suahasil to the highest position at the Ministry of Finance.

The change of Minister of Finance is an important part of the reshuffle of the Red and White Cabinet. It is hoped that Suahasil's presence will be able to maintain the continuity of fiscal policy while facing Indonesia's economic challenges for the remainder of the 2024–2029 government period.

#PrabowoSubianto #ReshuffleKabinet #MerahPutihKabinet #PurbayaYudhiSadewa #SuahasilNazara #MinisterofFinance #MinistryofFinance #IndonesiaEconomy #FiscalPolicy #IndonesiaBerita