Prabowo Calls for Massive Budget Cuts, Finance Minister: For Public Welfare

JAKARTA, KOMPAS.com - Minister of Finance Suahasil Nazara stated that the objective of the massive budget savings announced by President Prabowo Subianto is to ensure the welfare of the public.

Suahasil mentioned that in governance, the government must indeed carry out efficiency and savings in the state budget (APBN).

"This means that as we engage in this statehood, one element is the APBN. We continuously strive for efficiency and savings in the APBN," Suahasil remarked at the Presidential Palace in Jakarta on Wednesday (21/10/2026) evening.

"So that we can fund the necessary expenditures for the welfare of the community. That's the intent," he added.

Regarding Indonesia's capital market, which is currently facing challenges from MSCI, Suahasil deferred the matter to the Financial Services Authority (OJK).

However, Suahasil assured that the Ministry of Finance will support OJK's oversight efforts.

"As for us at the Ministry of Finance, we support the oversight carried out by OJK over trade and the integrity of the capital market; that is very important. We back that up," Suahasil emphasized.

Prabowo Advocates for Massive Savings

President Prabowo Subianto has opened the possibility of implementing substantial savings once again.

Prabowo affirmed this at the conclusion of his speech during the Cabinet Plenary Session at the Presidential Complex in Jakarta on Wednesday (21/10/2026).

"Ladies and gentlemen, if necessary, we will enact massive savings. We will tighten our frugality even further," Prabowo asserted.

He firmly stated that Indonesia is unafraid of any party that poses threats or challenges to the nation.

He highlighted that Indonesia possesses strength, courage, and an unyielding spirit.

"We are not afraid. We have strength, we have courage, and we are willing to make sacrifices, and we do not recognize surrender," he asserted.

Despite numerous attempts to hinder Indonesia, Prabowo expressed that he remains undaunted.

"Our people expect more, our difficulties are still many, and disturbances abound. We continuously face challenges. Whether it's MSCI or other issues, they may try to intimidate us. I simply say to MSCI, the Indonesian nation fears no one and will not be intimidated!" Prabowo asserted.