Indonesia' re-elected president Joko Widodo will announce his new cabinet in October - Photo by President Office

JAKARTA (TheInsiderStories) — Indonesian President Joko Widodo is likely to shuffle his economic team after Ramadan, said a cabinet member yesterday (05/07). Lately a lot of his ministers performance not so good and involved in corruption cases

Last month, Widodo said he was considering reshuffling his cabinet before he is sworn in for a second five-year term. He did not say when. The president its expecting to shake up his cabinet twice this year.

Minister of Finance (MoF) Sri Mulyani Indrawati optimistic that Indonesian economic growth can reach 5.3 percent target this year even though in the first quarter only grew 0.52 percent. Better investment climate, also maintained purchasing power and public trust are believed able to support the growth, amid global uncertainty.

According to her, household consumption and investment are two main supporting components for the economic growth. She assured, Government has encouraged consumption from social expenditure, as allocated in the state budget. And for the investment, Indrawati considered that the climate would get brighter after political uncertainty impacted by election.

Even so, she realized that United States – China trade war still clouds global financial condition, and anticipated export decline affected by the sentiment.

While, Indonesia central bank (BI) highlighted three efforts in getting infrastructure funding to support the 2030 Sustainable Development Goals (SDGs). In Paris Forum, BI Governor Perry Warjiyo said that Indonesia will consistently carry out structural reforms, in terms of institutional, fiscal, and regulatory.

He added, Indonesia will keep strengthening coordination between authorities to increase infrastructure financing by the private sector, including schemes of public private partnership, projects bonds, infrastructure funds, asset and earnings backed securities, and blended finance.

And the least, Indonesia accelerates infrastructure development by regarding social and environment infrastructure impact to achieve the 2030 SDGs agenda.

After miss management for years, Jakarta – Bandung High Speed Train project back on track. The US$6 billion project linking Jakarta with textile hub Bandung about 140km away is expected to slash travel time to about 40 minutes from more than three hours by train.

Indonesian Rupiah against US Dollar slightly increased by 0.02 percent to 14,295, after days of depreciation.

May you have a profitable day!

Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia