JAKARTA - Rating agency Moody's Investors Service (Moody's) maintained Indonesia's credit rating at Baa2 level, but lowered the outlook from stable to negative.
Coordinating Minister for the Economy Airlangga Hartarto explained that the change in outlook was due to the fact that a number of foreign rating agencies had not yet understood Indonesia's latest policy direction.
Therefore, Airlangga said the government needed to provide a more in-depth explanation to convince investors, especially those involved in international research institutions.
"Moody's is actually still an investment rate of Baa2, only he gives a negative outlook. Well, the negative outlook requires an explanation, of course, from the government and also the new institution Danantara," he told the media after the 2026 Financial Services Industry Annual Meeting (PTIJK), quoted Friday, February 6.
Airlangga added that the 2026 state budget allocation was different from previous years, with a focus on President Prabowo Subianto's flagship programs, such as Free Nutritious Meals (MBG), Red and White Village Cooperatives, and other priority programs.
In encouraging economic growth and investment, he said the government is now relying more on the role of the Danantara Investment Management Agency (BPI).
According to Airlangga, this has not yet been fully understood by rating agencies and global market players.
"But to drive growth through investment, now we have Danantara. So that's the difference. If previously investments were made through the budget. This is what many rating agencies or capital in the global financial market have not understood," he explained.
He added that through Danantara, the government can unlock and carry out reforms to state-owned enterprises so that they can operate more like the private sector, as requested by investors.
"So this is what we have to explain. Because in fact with Danantara we actually unlock and carry out reforms on the stake on the enterprise that they always ask to be separated, and this is also requested so that they can move like the private sector," he said.
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