"Like a soccer team, the economic team has been filled with star players. Now it will depend on the president as the coach of the players whether he is able to lead the team and mobilize his players," said Sohibul Iman.
Jakarta (ANTARA News) - President Joko Widodos (Jokowis) cabinet reshuffle on Wednesday is positively welcomed by many quarters, including political leaders, politicians, economic analysts and market players.

The appointment of Sri Mulyani Indrawati, a former finance minister and managing director of the World Bank, to the finance ministerial post, is considered a the best option to reinforce the economic team in the new cabinet lineup.

President of the Prosperous Justice Party (PKS) Sohibul Iman said the economic team of the President is reinforced with star players so that it would improve the nations economic conditions.

"Like a soccer team, the economic team has been filled with star players. Now it will depend on the president as the coach of the players whether he is able to lead the team and mobilize his players," said Sohibul Iman to reporters in response to the newly appointed cabinet ministers as announced by President Jokowi on Wednesday.

Therefore, the PKS president asked all sides to respect the decision of the head of state to reshuffle his cabinet. He said seeing the names of new ministers, the reshuffle focuses on improving the nations economy which has so far become the spotlight of the public.

"We hope that the new economic team would work well and make better performance than that of the previous one," he said.

General Chairman of the National Democratic Party (NasDem) Surya Paloh said the second cabinet reshuffle, particularly the appointment of Sri Mulyani as the finance minister, will create positive sentiment for the economy and the market.

"We know that the market pins the greatest hope on Sri Mulyani," said Surya Paloh when attending the inauguration of the new ministers on Wednesday.

He said he appreciated and is optimistic with the Working Cabinet after the second round reshuffle. "The Working Cabinet will perform far better and effective than the previous one," he said.

According to political observer Edi Indrizal of West Sumatras Andalas Univeersity, the cabinet shakeup is an effort by the President to accelerate economic development. Seeing the new ministers, the economic team is stronger.

"Although the reshuffle is not inseparable from political consideration, the ministers composition of the new cabinet lineup shows that President Jokowi is serious in improving the economic conditions as reflected in the inclusion of Sri Mulyani," Indrizal said in Padang, West Sumatra, on Wednesday.

House Speaker Ade Komarudin lauded the cabinet reshuffle terming it as the best effort to make the cabinet work more effectively.

"The House of Representatives (DPR) congratulates the newly appointed ministers and expresses the hope that the replaced ministers would serve in other places," the House Speaker said. He added that the announcement of the new cabinet would have a positive impact on the economy and strengthen the rupiah exchange rate.

"If the rupiah strengthens, the composite index (IHSG) in the stock exchange will also improve. So the market has certain expectations," he noted.

The Indonesian Stock Exchange (BEI) sees the strengthening of composite index as a sign that market players have responded positively to the cabinet reshuffle.

"The BEI composite index has today (Wednesday, July 27) surged. Its probably a reflection of the positive response of market players to the reshuffle. Some investors began to position themselves to enter the market," Samsul Hidayat, company appraisal director of the BEI, said here on Wednesday.

BEI President Director Tito Sulistio said the reshuffle created market positive perception and is positive for economic growth. It will improve the IHSG.

"The Indonesian economic perception has been positive. After all, this is the best reshuffle I have ever experienced in this country. It is in the correct timing," Tito Sulistio said.

According to Enny Sri Hartati, the director of the Institute for Development of Economics and Finance (Indef) , the appointment of Sri Mulyani Indrawati as finance minister would boost market confidence.

"Sri Mulyanis 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 Widodos cabinet in an attempt to increase market confidence and to consolidate the nations fiscal position.

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

The same opinion was also raised by economistTony Prasetiantono of Yogyakarta-based Gadjah Mada University (UGM). He said Sri Mulyani Indrawati is the best suited person to hold the post of finance minister because she is known for her ability to shore up confidence in the money market.

"Sri Mulyani is the best suited figure to influence and revive market confidence," Tony Prasetiantono stated in a statement released on Wednesday.

He believed Sri will be able to assure market players of the governments efforts to settle several problems in the economic field such as budget deficit, currently under pressure.

"If Sri Mulyani is ready, now will be the right time for her (to do so). The fiscal conditions are currently under pressure, and the budget deficit is widening. Extra efforts are needed to slash the deficit," he added.(*)

Reporter: Andi Abdussalam
Editor: Heru Purwanto
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