Jakarta. Deputy Finance Minister Suahasil Nazara received a surprise promotion on Monday, becoming President Prabowo Subianto’s third finance minister less than two years into his presidency.

The 55-year-old economist replaces Purbaya Yudhi Sadewa, who had emerged as an influential figure in Prabowo’s cabinet and oversaw funding for the president’s costly priority programs, including the free nutritious meals program and the establishment of tens of thousands of village cooperatives.

Purbaya took office on Sept. 8, 2025, replacing Sri Mulyani Indrawati, the internationally respected economist who had been widely regarded as a steady hand in managing Indonesia’s finances because of her prudent fiscal approach and extensive experience.

Sri Mulyani had previously served as finance minister under Presidents Susilo Bambang Yudhoyono and Joko Widodo before continuing in the role during the first year of Prabowo’s administration.

Suahasil, meanwhile, is hardly a newcomer to the Finance Ministry.

A graduate of the University of Indonesia with a degree in economics, he later earned his doctorate from the University of Illinois.

From Academia to the Finance Ministry
Suahasil began his career in academia as a lecturer at the University of Indonesia’s Faculty of Economics and Business and was appointed a professor of economics in 2009.

His career then increasingly shifted toward public policy.

From 2009 to 2011, he served on an advisory team to the finance minister on fiscal decentralization. He was also a policy coordinator at the Secretariat of the National Team for the Acceleration of Poverty Reduction from 2010 to 2015.

Suahasil moved deeper into the Finance Ministry’s leadership when he was appointed acting head of the Fiscal Policy Agency (BKF) in February 2015.

He was formally appointed head of the agency in October 2016, placing him among the ministry’s senior officials and giving him a central role in the formulation of Indonesia’s fiscal and economic policies.

His rise continued when he was appointed deputy finance minister, serving alongside Sri Mulyani before remaining at the ministry through the subsequent leadership transition to Purbaya.

That continuity ultimately positioned him to take the top job himself when Prabowo appointed him finance minister on Monday.

Told of Promotion Monday Morning
Suahasil said he only learned about his appointment as finance minister on Monday morning and was asked to prepare for his inauguration later that afternoon.

“This is, of course, an expression of the trust placed in me by the president and the country. I am grateful for that trust, and I hope I can carry out the responsibility entrusted to me by the president,” Suahasil said.

His appointment marks another rapid change at the top of one of Indonesia’s most important economic institutions.

Prabowo began his presidency in October 2024 with Sri Mulyani as finance minister. She was replaced by Purbaya in September 2025, before Purbaya himself was succeeded by Suahasil roughly a year later.

Wealth of Rp 138.17 Billion
According to his wealth declaration filed in February 2026, Suahasil reported net assets of Rp 138.17 billion ($7.9 million).

The largest portion of his wealth was held in securities, valued at Rp 66.88 billion, followed by land and property worth Rp 49.86 billion.

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