Jakarta. President Prabowo Subianto on Monday appointed Suahasil Nazara as finance minister, replacing Purbaya Yudhi Sadewa as part of a Cabinet reshuffle.

Prabowo announced the appointment at the Presidential Palace in Jakarta, saying Suahasil would serve as finance minister for the remainder of the 2024-2029 term.

“I have decided to appoint Prof. Suahasil Nazara PhD as finance minister of the Red and White Cabinet for the remainder of the 2024-2029 term,” Prabowo said.

Purbaya’s tenure as finance minister lasted only one year. He was appointed to replace Sri Mulyani Indrawati on Sept. 8, 2025.

The reshuffle came after Prabowo returned from India. Several ministers and senior government officials arrived at the palace ahead of the inauguration ceremony.

Suahasil, 55, brings extensive experience in fiscal policy to the Finance Ministry. Before becoming finance minister, he served as deputy finance minister and headed the ministry’s Fiscal Policy Agency.

Born in Jakarta on Nov. 23, 1970, Suahasil earned a bachelor’s degree in economics from the University of Indonesia in 1994. He later received a master’s degree from Cornell University in 1997 and a PhD in economics from the University of Illinois Urbana-Champaign in 2003.

He began his career as a lecturer at the University of Indonesia’s Faculty of Economics and Business in 1999 and became a professor of economics in 2009. He also held several academic positions, including head of the postgraduate economics program, head of the Demography Institute and head of the economics department.

Suahasil entered government policy work in 2009 as a member of the finance minister’s advisory team on fiscal decentralization. From 2010 to 2015, he coordinated policy working groups at the National Team for the Acceleration of Poverty Reduction under the vice president’s office.

He joined the Finance Ministry’s senior leadership in 2015, when he was appointed acting head of the Fiscal Policy Agency. He was confirmed in the position in October 2016.

Then-President Joko Widodo appointed Suahasil deputy finance minister in October 2019. He continued in the position under Prabowo until his appointment as finance minister.

In recent months, Suahasil remained active in explaining the government’s fiscal policies and its 2027 state budget plans. In August, he outlined the government’s strategy to achieve its 6% economic growth target for 2027, citing a recovery in domestic economic activity, manufacturing, exports and government spending.

Suahasil now takes charge of the Finance Ministry as the government prepares to implement its fiscal policies and the 2027 state budget.

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