Indonesia Finance Minister outlines responsibilities for three deputy ministers

Finance minister details division of tasks among three deputies

Indonesia's Finance Minister Suahasil Nazara outlined the distribution of responsibilities among his three deputy ministers on Friday, emphasizing that while each deputy has a primary focus area, all remain engaged with the ministry's broader fiscal management duties.

Speaking at a press conference at the Finance Ministry office in Jakarta on October 9, 2026, Nazara, who was appointed to his position on September 14, 2026, explained that the collaborative approach ensures comprehensive oversight of the state budget and ministry operations.

It is about work focus, meaning the other matters are also given attention

Nazara said, noting that he and the three deputies work together in managing the state budget and the ministry's functions.

Deputy Minister Portfolios

Deputy Finance Minister Juda Agung, who joined the ministry on February 5, 2026, will concentrate on the financial sector, international issues, and financing matters. Agung brings extensive experience from his tenure as Deputy Governor of Bank Indonesia from January 2022 to January 2026, as well as his prior service as Executive Director at the International Monetary Fund from 2017 to 2019.

Deputy Finance Minister Nurkholisoh Ibnu Aman has been assigned responsibility for state revenue, encompassing tax revenue, customs and excise, and non-tax state revenue.

We all know how important this aspect of state revenue is for the state budget

Nazara emphasized. Nurkholisoh holds a PhD in Finance from University of Edinburgh Business School and an MBA in Finance and Economics from University of Chicago Booth School of Business. He previously served as Senior Economist at Bank Indonesia from 2006 to 2019 before returning as Senior Researcher in November 2024.

Deputy Finance Minister Luky Alfirman will oversee state spending, treasury operations, and transfers to regions. Alfirman, a career Finance Ministry official who joined the ministry on March 1, 1995, holds a PhD in Economics from University of Colorado at Boulder and a bachelor's degree in Industrial Engineering from Bandung Institute of Technology.

The minister noted that all four senior officials will jointly focus on management, organization, human resources, the ministry's budget, and other institutional matters.

We will work together, but there will be several focus areas for the deputies, whose lineup is now complete

he said.

Budget Performance and Targets

The complete deputy minister team takes charge as Indonesia manages its 2026 state budget, which parliament approved with a fiscal deficit target of 2.68 percent of GDP. The budget projects state revenue of Rp3,153.6 trillion and state spending of Rp3,842.7 trillion, with the deficit remaining below the legally mandated ceiling of 3 percent of GDP stipulated in the State Finance Law.

Nazara reported that state revenue through the end of September 2026 reached Rp2,341.5 trillion, representing a 25.5 percent year-on-year increase and equivalent to 74.2 percent of the annual target.

Through the end of September, our budget performance is quite good. State revenue has been collected at Rp2,341 trillion

Nazara said at the Investor Daily Summit 2026 on Thursday, October 8.

The deputy finance minister positions were filled under Presidential Decree Number 104P of 2026, which appointed Alfirman and Nurkholisoh to join Agung in assisting Nazara, who previously served as Deputy Finance Minister from October 2019 to September 2026 before his promotion to minister.