House Of Representatives Budget Committee Is Confident Finance Minister Purbaya's Cowboy Style Can Ease Market Restrictions

JAKARTA - Said Abdullah, Chairman of the House of Representatives Budget Committee (Banggar), believes that Finance Minister Purbaya Yudhi Sadewa's cowboy style can ease tight monetary policy in the financial market.

"We are confident that our Finance Minister (Purbaya Yudhi Sadewa)'s cowboy style can loosen tight monetary policy," Said said at the 5th House of Representatives Plenary Session of the 2025-2026 Session Period I at the House of Representatives Building, Parliament Complex, Jakarta, Tuesday, September 23.

Said said this confidence stems from Purbaya's ability to maintain market liquidity amidst global pressures. He noted that even in the past month, there have been signs of greater stability in the financial market.

He said that if this trend continues, it is possible that government bond interest rates could be reduced next year, thus lowering the cost of funds borne by the state budget.

"We hope this situation will continue so that government bond interest rates next year can be lower, thus lowering the cost of funds borne by the state budget. Therefore, the cost of funds borne by the state budget will be even lower," he said.

Previously, Said Abdullah, Chairman of the House of Representatives Budget Agency, announced the final agreement with the government regarding the macroeconomic assumptions for the 2026 State Budget. One of the agreed figures was economic growth at 5.4 percent.

Said continued, adding that inflation was set at 2.5 percent. The rupiah exchange rate was agreed at Rp 16,500 per US dollar, while the 10-year government bond interest rate was set at 6.9 percent.

Said stated that the Indonesian Crude Oil Price (ICP) was set at US$70 per barrel. Oil lifting was also set at 610,000 barrels per day and natural gas lifting at 984,000 barrels of oil equivalent per day.

"We assume that the overall agreement on the figures above will serve as an important foundation for the government," Said stated during the 5th House of Representatives Plenary Session of the 2025-2026 Session Period I at the House of Representatives Building, Parliament Complex, Jakarta, on Tuesday, September 23.