The sudden decisions about these pivotal roles took markets by surprise. They will raise new doubts among some observers over the country’s financial stability at the worst possible time, when next year’s budget is being thrashed out while inflationary pressure is pushing up financing costs.

While in office, Purbaya earned a reputation for rash statements that repeatedly ruffled the feathers of his cabinet peers when he appeared to be telling them how to do their jobs.

The latest such case was his public spat with Danantara CEO Rosan Roeslani over a dividend payout plan to help plug the budget deficit. This went against the initial concept of having the state asset fund’s managers decide how to use dividends from the state-owned enterprises (SOEs) it controls, whether for capital injections or investments into new projects.

That squabble might have been the straw that broke the camel’s back, or it might have been last week’s overhaul at the Finance Ministry that saw hundreds of officials replaced.

Purbaya’s snarky remarks made for good headline material but were risky politically, just like his bold policy decisions as he looked for ways to finance President Prabowo Subianto’s ambitious economic growth agenda.

His successor, a former deputy minister, might avoid such political risks through what many expect will be a more technocratic leadership, but Suahasil still faces the same challenge of supporting Prabowo’s growth target while convincing market actors of continued fiscal prudence.