Indef: Sri Mulyani's appointment to boost market confidence

REPUBLIKA.CO.ID, JAKARTA -- The appointment of Sri Mulyani Indrawati as finance minister would boost market confidence, according to Director of the Institute for Development of Economics and Finance (Indef) Enny Sri Hartati.

"Sri Mulyani's appointment is believed to have a positive impact on the market," Hartati stated here on Wednesday.

Hartati remarked that her capability and track record had become great assets and a strong capital in President Joko Widodo's cabinet in an attempt to increase market confidence and to consolidate the nation's fiscal position.

Hartati stated that the rising market confidence should be balanced with structural and institutional transformation by the Indonesian government.

Structural and institutional transformation are the keys to solving these problems and should be carried out by technical ministries related to the economy, Hartati noted.

President Widodo, in the company of Vice President Jusuf Kalla, had earlier announced the names of his new cabinet ministers at the Merdeka Palace here on Wednesday.

"I will always want to work more optimally, faster, and more effectively with a solid team, so they can deliver real results. Based on this, the vice president and I announce the second cabinet reshuffle," President Widodo said.

The following ministers are part of the new cabinet line-up:

1. Coordinating Minister for Maritime Affairs and Environment Luhut Binsar Panjaitan,

2. Minister/Chief of the National Development Planning Agency Bambang Brodjonegoro,

3. Minister of Agricultural and Spatial Planning/National Land Agency Sofyan Djalil,

4. Chief of the Capital Investment Coordinating Board Thomas Trikasih Lembong,

5. Coordinating Minister for Political, Legal, and Security Affairs Wiranto,

6. Finance Minister Sri Mulyani Indrawati,

7. Minister of Rural Development and Disadvantaged Areas Eko Putro Sandjojo,

8. Transportation Minister Budi Karya Sumadi,

9. Culture and Education Minister Muhadjir Effendy,

10. Trade Minister Enggartiasto Lukita,

11. Industry Minister Airlangga Hartarto,