In an attempt to revive sluggish growth, Prime Minister Prabowo Subianto of Indonesia on Monday replaced the current Finance Minister Sri Mulyani Indrawati with a veteran economist, Purbaya Yudhi Sadewa. The new minister promised a rapid reform agenda, such as taxation reforms and more productive public investment to boost the economy.
Markets reacted more cautiously to the announcement, as the rupiah remained stable against the U.S. dollar. Analysts observe that future success will depend on the balance between fiscal discipline and populist commitments before the 2025 budget debates
