Economist Says Investors More Concerned about Next Finance Minister than President

TEMPO.CO, Jakarta - An economist from the Center of Economic and Law Studies (Celios) Bhima Yudhistira revealed that investors are showing more concern about who will succeed Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan and Finance Minister Sri Mulyani Indrawati in the next administration following the 2024 election.

Bhima said that the trend in foreign direct investment or FDI tended to slow down slightly. Prior to the presidential election, investors would often ask a series of questions.

“Some say ‘I don't care who the [next] president is, I care more about who the [next] ministers are, including the finance minister, whether there is someone with a capacity of Sri Mulyani or Coordinating Minister for Maritime Affairs and Investments when the new government is established'. That is the question,” Bhima said in a talk show hosted by Thornton Indonesia on Wednesday, November 29.

According to him, it is more interesting to consider who will be the next ministers in the new government since investors can calculate risks and determine their investment plans.

“Two rounds [of the presidential election] means they will have to wait and see longer,” he added.

Bhima mentioned that the Indonesia Stock Exchange (IDX) Composite Index was corrected today, but has then strengthened. He believed that one of the reasons was confidence in the election despite the drama. “But domestic investors are still holding back,” he said.

AMELIA RAHIMA SARI

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