Published on October 16, 2025, by Bisnis.com
by Dany Saputra
Finance Minister Purbaya criticized Danantara for using dividends from state-owned enterprises to buy government bonds, pushing for project investments to spur economic growth at 8% in 2029.
Bisnis.com, JAKARTA — Finance Minister Purbaya Yudhi Sadewa has again criticized Danantara Indonesia, which he believes is using SOE dividends to purchase government bonds or SBN rather than investing in various projects.
Purbaya made this statement while attending his inaugural meeting as a member of the Danantara supervisory board at Wisma Danantara Indonesia on Wednesday (10/15/2025).
Purbaya stated that Danantara enjoyed Rp90 trillion in dividends from state-owned enterprises this year, in line with the target set in the 2025 State Budget. However, he noted that much of the dividends were diverted to purchasing government bonds.
“I criticized them earlier. If you’re investing in so many government bonds, what expertise do you have? But they said this is only for the last three months as they don’t have time to build projects. They’ll improve it in the future,” he told reporters after the meeting, as quoted on Thursday (10/16/2025).
Purbaya encouraged Danantara’s revenue generated through state-owned enterprise profits to be invested in various projects that could boost economic growth.
The government is pushing for investment to surge to 8.5% by 2029, the end of President Prabowo Subianto’s term. Investment growth to Rp10,000 trillion is expected to support the 8% economic growth target.
Private investment is expected to make the largest contribution, at Rp8,300 trillion. Danantara is expected to contribute Rp980 trillion and the government Rp710 trillion.
In addition to investment, Purbaya is also encouraging Danantara to utilize state-owned enterprise dividends, which are no longer being paid into the state budget, to settle the debt on the Jakarta-Bandung high-speed rail project.
The former Deputy Minister of Maritime Affairs and Investment has conveyed his stance to Danantara’s CEO and its board members that he opposes the state budget being burdened with repaying the high-speed rail project debt.
“My position is clear, because Indonesia’s agreement with China doesn’t require the government to pay. Usually, as long as the payment structure is clear, they have no problem. But we’ll see what the study results are,” Purbaya said.