ASIATODAY.ID, JAKARTA – Indonesia’s Finance Minister, Purbaya Yudhi Sadewa, revealed that the placement of IDR 276 trillion (~USD 17.6 billion) in state-owned banks (Himbara) has yet to effectively stimulate the national economy.
The liquidity injection through the banking system is considered less than optimal, failing to significantly boost consumer demand and economic activity.
“The impact of injecting funds into the banking system has not been as effective as I initially expected,” Purbaya said at the Ministry of Finance office in Jakarta on Wednesday, December 31, 2025.
Only Part of IDR 276 Trillion Circulates
From the total IDR 276 trillion placed in banks, the government has withdrawn around IDR 75 trillion. However, these funds remain within the economy, as they were redirected through government spending at both central and regional levels.
“We withdrew IDR 76 trillion but spent it again. So it re-enters the system, just not directly in the banks. Meanwhile, Rp200 trillion remains in the banks,” he explained.
Fiscal and Monetary Coordination Key to Growth
Minister Purbaya emphasized the importance of coordinating fiscal and monetary policies between the Ministry of Finance and Bank Indonesia. Previously, misalignment between policies was seen as a constraint on economic growth.
“Now we are better synchronizing fiscal and monetary policies, working closely with Governor Perry Warjiyo. This is not intervention, but stronger communication,” he added.
With these harmonized policies, Purbaya is optimistic that national economic growth will accelerate. He projects 2025 GDP growth at around 5.2%, with Q4 growth above 5.5%, and aims for 6% growth in 2026.
“Reaching 6% growth in 2026 should be achievable, not too difficult,” Purbaya said.
Ministry of Finance Year-End Performance Review
During the Year-End Dialogue and 2025 Fiscal Closing, Purbaya commended the Ministry of Finance staff for maintaining healthy public finances despite global economic uncertainties.
The dialogue also reviewed regional State Revenue and Expenditure Budget (APBN) performance across Sumatra; Java and Kalimantan; Sulawesi, Bali, and Nusa Tenggara; and Papua and Maluku, with reports delivered via video conference.
Purbaya highlighted the need for better coordination and renewed commitment to prepare for the 2026 fiscal year.
“Thank you for all the hard work this year. Next year, let’s be even more motivated,” he concluded. (AT Network)
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