Tangerang. Indonesia’s new Finance Minister, Purbaya Yudhi Sadewa, has earned praise from economists for adopting bold and unconventional fiscal policies less than two weeks into his tenure.

Purbaya, who took office on September 8, quickly made headlines by transferring Rp 200 trillion ($12.2 billion) in government funds from Bank Indonesia to state-owned commercial banks. He followed this by ordering ministries and state institutions to use their budgets consistently and warning that he would withdraw funds left unused by the end of 2025.

According to senior economist Ryan Kiryanto, these moves show that Purbaya is not a passive policymaker but one willing to take initiative and push for breakthroughs to stimulate a sluggish economy.

Compared with his predecessor, Sri Mulyani Indrawati, who emphasized prudence and administrative discipline, Purbaya is "more aggressive" and proactive, Ryan said during a discussion hosted by B-Universe Media Holdings in Pantai Indah Kapuk 2, Tangerang, Banten.

“Between Sri Mulyani and Purbaya, their playing styles are different. The former was more defensive, like Manchester United today. Purbaya plays more aggressively,” Ryan joked.

Stimulating Credit and Growth
Ryan said he understood Purbaya’s rationale for shifting idle government funds into commercial banks: to make credit more accessible to businesses while also generating interest income for the state.

“His spirit is to break the deadlock in the economy. By boosting supply from lenders and leveraging idle funds, businesses can benefit. This way, state-owned banks can become true agents of development,” Ryan explained.

He added that while boosting credit supply is crucial, demand from businesses must also be encouraged. “The business community must feel comfortable to expand in a safe and stable environment. But this is not the finance minister’s job. Security rests with the police and other authorities,” Ryan said.

Ryan also welcomed Purbaya’s demand that ministries fully utilize their budgets, noting that weak government spending could drag down growth. “Encouraging ministries to meet their spending targets could be a lever to lift the economy,” he said.