Jakarta: Indonesia Stock Exchange (IDX) president director Inarno Djajadi hopes that the new cabinet can be announced as soon as possible.
"The new cabinet should be able to maintain economic stability. It also should be able to help boost the stock exchange's growth," Inarno said here on Monday.
Indonesia held a simultaneous general and presidential elections on April 17. Voters elected the president, vice president as well as members of national and local legislative bodies on the same day.
The General Elections Commission (KPU) concluded the vote recapitulation process at the national level on May 21. The agency named incumbent President 'Jokowi' Widodo and his running mate Ma'ruf Amin as the winners of this year's presidential race.
The Contistutional Court (MK) announced its ruling on presidential election dispute on June 27. MK judges rejected Prabowo Subianto-Sandiaga Uno presidential pair's legal challenge in its entirety.
According to a report from Bank Indonesia (BI), a general softening of national economic growth has occurred during the second quarter of 2019 as a corollary of declining export performance.
The recent escalation of international trade tensions has undermined export performance in Indonesia due to restrained global demand and lower commodity prices despite relative improvements for a number of commodities, including chemicals, iron and steel, coal as well as vegetable oil.
Non-building investment has thus far failed to increase significantly as a consequence of flagging exports notwithstanding positive building investment growth. Meanwhile, consumption is expected to pick up on the back of maintained public purchasing power and consumer confidence. Limited domestic demand gains have fed through to lower imports. Moving forward, efforts to stimulate domestic demand shall be increased in order to mitigate the adverse impact of global economic moderation stemming from international trade tensions.