NEW DELHI: Indonesia's parliament has approved a sweeping economic reform bill that significantly expands the role of the country's central bank in supporting economic growth and development. The legislation marks one of Indonesia's most substantial economic policy overhauls in recent years and is aimed at strengthening long-term growth, improving financial stability, and enhancing coordination between monetary and fiscal authorities.

Under the new framework, the central bank will be granted broader responsibilities to support government economic objectives while continuing to maintain price stability and financial system resilience. Supporters of the bill argue that the changes will provide policymakers with greater flexibility to respond to economic challenges and promote sustainable growth.

The reform comes as Southeast Asia's largest economy seeks to attract investment, boost productivity, and navigate global economic uncertainties. While government officials have welcomed the move as a step toward stronger economic management, some analysts have raised concerns about maintaining the central bank's independence.