Hal yang Harus Dipertahankan dan Diperbaiki dari Kebijakan Purbaya

Summary

Ferry Irwandi assesses Purbaya Yudhi Sadewa’s record as finance minister, focusing on economic policy rather than the political reasons for his replacement. He says only President Prabowo can explain the reshuffle and argues that popularity or closeness to the president does not make any official irreplaceable.

Policies and actions Ferry says should be preserved

• Pursuing under-invoicing and transfer pricing, which Ferry says have cost the state revenue for years.
• Cracking down on illegal cigarettes. He argues that enforcement can recover excise revenue and make higher tobacco taxes more effective at discouraging smoking.
• Pressuring government agencies and businesses to resolve obstacles that delay budget spending and investment—the “debottlenecking” effort.
• Giving attention to problems with the Coretax tax system.
• Holding back some proposed tax increases, including a tax affecting e-commerce. Ferry says he is unsure why that tax was later implemented.

Areas Ferry believes needed improvement

• Placement of state budget surplus funds (SAL) in state-owned banks: Ferry says the expected boost to lending and economic activity was not clearly demonstrated. He questions adding more funds before the results were established and says SAL should remain a fiscal buffer unless its public benefits are proven.
• Tax refunds: Ferry says businesses’ tax-restitution claims were delayed and argues that valid claims should be paid under the rules. He hopes the new finance minister will resolve the issue.
• Transfers to regional governments: Ferry criticizes reduced regional funding, warning that local governments may struggle to deliver programs and that weaker regional spending could limit the circulation of money across the economy.

Ferry describes Suahasil Nazara as academically qualified and experienced, but says he faces major economic and fiscal challenges, including a weak rupiah, a struggling stock market, rising debt, and a widening deficit.

He urges the finance minister to give the president candid advice rather than simply agree with him. While acknowledging that the finance minister does not decide every government program, Ferry says the minister should clearly explain each program’s fiscal costs, risks, and likely effects. He also questions whether ambitious programs will generate enough economic benefit to justify their costs, warning that they could contribute to inflation and fiscal pressure.

People mentioned

• Presenter: Ferry Irwandi
• Featured or quoted: Purbaya Yudhi Sadewa, Prabowo Subianto, Suahasil Nazara