The Capital Market Will Respond Positively If The Minister Of Finance Is Purbaya Maintains Integrity And Consistency

The Minister of Finance of the Republic of Indonesia, Purbaya Yudhi Sadive. (Photo: Doc. Antara)

JAKARTA - Economic observer from Andalas University, Syafruddin Karimi, assessed that the change of Minister of Finance from Sri Mulyani Indrawati to Purbaya Yudhi Sadivewa brought an important message to the capital market, especially regarding the signal of independence in policy making.

According to him, investors not only pay attention to the personal closeness aspect between the minister and the President, but prioritize policy consistency, fiscal credibility, and clarity of the direction of government communication.

"If Purbaya is able to maintain a balance between political closeness and professional integrity, the capital market will respond positively," he explained in his statement, Monday, September 8.

Syafruddin added that what the market is most looking for is not only who serves as a minister, but whether the policies implemented are able to provide certainty, consistency, and support sustainable economic growth.

"Because what the market is most looking for is not just who sits in the ministerial seat, but whether the policies taken provide certainty, consistency, and a sustainable direction of growth," he said.

Previously, President Prabowo Subianto officially inaugurated Purbaya Yudhi Sadivewa as Minister of Finance, replacing Sri Mulyani Indrawati, on Monday, September 8.

Meanwhile, the Composite Stock Price Index (JCI) closed lower at the end of trading Monday, September 8, after President Prabowo Subianto announced the reshuffle of the Red and White cabinet.

Based on RTI data at 16.05 WIB, JCI fell 100.49 points or 1.28 percent, and closed at 7,766.84.

One of the strategic positions that has changed is the Minister of Finance, where President Prabowo Subianto inaugurated Purbaya Yudhi Sadivewa replacing Sri Mulyani Indrawati.

Responding to the decline in the JCI after the announcement, Purbaya emphasized that he was not new to the world of financial markets.

"Maybe the market doesn't know, I'm a market person. How many are I in the market? Yes, since 2000. It's been more than 15 years," he told the media crew at the Ministry of Finance's office, Monday, September 8.

He emphasized that he had known the dynamics of the market for a long time and considered that the team at the Ministry of Finance is currently very solid.

Therefore, according to him, if improvement or optimization is needed in fiscal policy, he is sure that he will be able to do it together with the existing ranks.

Purbaya mentioned a number of Deputy Ministers of Finance such as Suahasil Nazara, Anggito Abimanyu, and Thomas Djiwandono as experienced figures who are ready to work together to maintain state financial stability.

"So if you give the truth, fix it, optimize it, it feels like we have enough instruments to fix it together," he said.

He also said that no specific policy had been taken considering that he had just taken office.