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President Prabowo Subianto has added two new directorate generals to the Finance Ministry – the Economic and Fiscal Strategy Directorate General and the Financial Sector Stability and Development Directorate General.
Instead of being placed under the command of the coordinating economic minister, the finance minister now reports directly to the President, which indicates a more hands-on approach by Prabowo Subianto to budget management.
Sri Mulyani Indrawati was once again appointed finance minister under newly inaugurated President Prabowo Subianto, making her the first to serve under three different presidents, despite her and Prabowo’s initial reluctance. As Sri Mulyani remains in her position, Prabowo will have to compromise and delay his plan to establish a national revenue collection agency.
Prabowo’s Cabinet is the largest since 1966 when the nation’s first President Sukarno formed an administration of 132 ministers in an extremely tense political situation after a failed 1965 coup. The so-called “Dwikora Cabinet 2” was dismissed a month later.
The government and the House of Representatives are one step closer to inking the 2025 state budget bill, but the draft leaves many questions unanswered regarding the impending government transition and funding for key projects.
A former campaign aide has said that the president-elect is seeking an individual with both financial and policymaking acumen to take the helm of the Finance Ministry under his administration, though "it's still too soon” to name any names ahead of the transfer of power in October.
