Jakarta, CNBC Indonesia – Sri Mulyani was finally officially not the Minister of Finance after President Prabowo Subianto inaugurated Purbaya Yudhi Sadewa as the new Minister of Finance.
As is known, President Prabowo Subianto made a reshuffle of the Red and White Cabinet personnel, including the Minister of Finance today, Monday (8/9/2025). Today’s reshuffle was the first Prabowo done after leading the Red and White Cabinet since October 20, 2024.
The change of post in the Ministry of Finance is somewhat surprising despite many times Sri Mulyani was rumored to be backward.
It was implied that the former Minister of Finance Sri Mulyani would resign after the looting that occurred at his residence, Jalan Mandar, Bintaro Sector III, South Tangerang, during the demonstration yesterday.
Sri Mulyani was also under strong pressure from the public after his words about the welfare of teachers and lecturers reap controversy. The statement was considered to offend the public, although the Ministry of Finance emphasized that the viral video was the result of manipulation alias Deepfake.
The name Sri Mulyani was also associated with the House of the House of Representatives which reached Rp 50 million per month. The amount of allowance has triggered a massive demonstration in Jakarta in the last few days.
After being reportedly resigning, today, Prabowo officially replaced Sri Mulyani. The former Managing Editor of the World Bank had previously resigned from the position of Minister of Finance.
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Photo: Minister of Finance, Sri Mulyani Indrawati gave debriefing to the Candidates for Extraordinary and Powerful Ambassadors of the Republic of Indonesia. (Instagram/Smindrawati)
The Minister of Finance, Sri Mulyani Indrawati, gave a briefing to the Candidates for Extraordinary Ambassadors and full of power full of the Republic of Indonesia. (Instagram/Smindrawati)
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On May 5, 2010, Sri Mulyani submitted his resignation as Minister of Finance to President Susilo Bambang Yudhoyono (SBY), because he was appointed as Managing Director (Director of Implementing) of the World Bank. His name was replaced in the middle of heating the Century Bank conflict.
President SBY approved the resignation, and was replaced by Agus Martowardojo on May 20, 2010.
Sri Mulyani herself openly stated that she resigned because of political pressure and felt that he did not get support in the system at that time.
Then Sri Mulyani again served as Minister of Finance in the era of President Joko Widodo (Jokowi) who was appointed on July 27, 2016.
In the Jokowi era, there were several issues that Sri Mulyani would resign from her position as Minister of Finance.
After the ignition of these issues, Sri Mulyani returned to the Minister of Finance in the era of President Prabowo Subianto who was inaugurated on October 21, 2024.
However, not escape from the issue of resignation of positions, again the era of President Prabowo, Sri Mulyani was again rumored to be resigned before finally replaced today.
Many times reportedly resigned in 2024-2025
The name Sri Mulyani repeatedly hit by the issue of resignation since early 2024. From the beginning of 2024 to the cabinet reshuffle in September 2025, rumors around him often triggered market turmoil.
1. January 2024
The first issue arose in January 2024. Senior Economist of the late Faisal Basri in a public discussion said that “Morally, Sri Mulyani is the most ready to withdraw” from the President Joko Widodo Cabinet.
This statement was interpreted as a signal of Sri Mulyani’s inconvenience with the direction of fiscal policy ahead of the 2024 election. The market was restless, even though politician Zulkifli Hasan hurriedly asked the public not to excessively speculate.
2. March 2025
On March 18, 2025, the Indonesian capital market was rocked. JCI plummeted 6.58%, forcing the Indonesia Stock Exchange (IDX) to trade halt. Many analysts and market participants directly associate this turmoil with the issue of Sri Mulyani which is said to be backward.
However, Sri Mulyani quickly spoke up. He asserted to remain focused on maintaining the state budget and fiscal stability. Clarification also came from the Deputy Speaker of the House Sufmi Dasco Ahmad and the presidential spokesman, who emphasized that the issue of withdrawal was not true.
3. August-September 2025
The situation heats up in August 2025 when a large demonstration occurs. Sri Mulyani’s house was even looted by the masses, triggering new speculation about his resignation.
Coordinating Minister Airlangga Hartarto denied the rumors, while Sri Mulyani remained present at the cabinet meeting as a form of clarification that he did not retreat.
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