Purbaya Emphasizes Fiscal and Monetary Synergy is Running Well

Minister of Finance Purbaya Yudhi Sadewa. (Photo: ANTARA)

JAKARTA - Minister of Finance Purbaya Yudhi Sadewa emphasized that there has never been a problem in the synergy between fiscal and monetary authorities.

Responding to questions regarding the issue of synergy that emerged in the fit and proper test process of Thomas Djiwandono at Commission XI of the Indonesian House of Representatives, Purbaya stated that similar questions had also emerged in previous discussions.

He assessed that at that time not all parties fully understood the working pattern of the Financial System Stability Committee (KSSK).

Purbaya explained that the KSSK has a permanent secretariat filled with personnel from various institutions, namely Bank Indonesia (BI), the Ministry of Finance, the Savings Deposit Insurance Agency (LPS), and the Financial Services Authority (OJK).

"Actually, when we were in the DPR, we were asked the same thing. So at that time the DPR was not aware, or we didn't report it, that the KSSK or had a secretariat that every day there were 27 people, there were BI employees, financial employees, LPS employees, employees from OJK whose station was there, their work was there, "he said in a press conference after the periodic meeting of the KSSK I-2026, Tuesday, January 27.

He said that the employees work every day to collect information, monitor the economic and financial sector conditions, and report the latest developments to the respective leaders of the institutions.

"So, we always monitor it and every month there is always a deputy meeting, where the Deputy Minister of Finance, Senior Deputy of BI, Deputy Chairman of LPS, Deputy Chairman of OJK hold an intensive meeting, it often goes until the morning," he said.

"So the coordination is good, very good, we only meet once every three months, but every day, there are monthly meetings that accompany it," he added.

With this mechanism, Purbaya emphasized that all members of the KSSK always know about the issues that are developing, both in the fiscal, monetary, financial services, and deposit guarantee sectors, so that coordination between authorities has been very good.

Furthermore, Purbaya said that the KSSK will continue to strengthen coordination and synergy to anticipate various potential risks that originate from economic dynamics, financial markets, and global geopolitical conditions, including the impact of the spillover on the domestic economy and financial system.

According to him, this effort is carried out through the strengthening of coordinated policy responses and increased vigilance to maintain the stability of the financial system.

"KSSK has also been and continues to be committed to supporting the real sector and the Government's Asta Cita program to encourage sustainable economic growth to achieve national prosperity," he said.

In addition, Purbaya conveyed that the Government together with BI, OJK, and LPS is committed to completing all regulations for the implementation of the mandate of the Financial Sector Development and Strengthening Law (UU P2SK) in a credible manner by involving various stakeholders, including financial services industry players and the wider community.