Akmalal Hamdhi, Jakarta – Finance Minister Purbaya Yudhi Sadewa on Thursday pushed back against criticism from economists over Indonesia's economic outlook, urging them to base their assessments on data rather than what he described as alarmist narratives.
Purbaya expressed frustration at negative commentary on the state budget, particularly concerns tied to rising global oil prices, and suggested critics should "study more" to better understand the country's economic fundamentals.
"People are making noise about the state budget – saying it will fall apart under my leadership. If I may respond, I am frustrated because some economists are simply amplifying fear," Purbaya told reporters in Jakarta.
He said such concerns are often overstated, pointing to predictions that crude oil prices could remain as high as $120 per barrel due to geopolitical tensions in Iran.
According to Purbaya, average oil prices this year have hovered around $74 per barrel, not far from the $70 assumption used in the 2026 state budget.
"If prices rise by just $4 per barrel, we can easily absorb it through efficiency measures and available fiscal buffers," he said.
Purbaya added that he is not opposed to criticism, but stressed that it should remain rational and grounded in data. He warned against extreme projections, such as claims that Indonesia could face an economic collapse if oil prices surge dramatically.
"I am not against criticism, but don't say that Indonesia's economy will collapse or fall into recession within two months because oil hits $200 per barrel. If oil reaches $200, the entire world would be in recession," he said.
"A proper economist presents figures based on clear estimates grounded in historical data. Don't just make claims – if you don't understand, go back and study," Purbaya added.