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Jakarta Post

Jokowi's new Cabinet: Sri Mulyani keeps job as finance minister

  • Marchio Irfan Gorbiano

    The Jakarta Post

Jakarta   /   Tue, October 22, 2019   /   11:34 am
Jokowi's new Cabinet: Sri Mulyani keeps job as finance minister Finance Minister Sri Mulyani Indrawati leaves the State Palace on Tuesday, Oct. 22, 2019. (JP/Donny Fernando)

The former managing director of the World Bank, Sri Mulyani Indrawati, who has been President Joko "Jokowi" Widodo's finance minister since 2016, says she is ready to stay in that position in Jokowi's next Cabinet.

"[President Jokowi] has assigned me to keep serving as finance minister and to use all fiscal policy [options] to help the relevant ministers improve economic resilience," said Sri Mulyani after meeting Jokowi at the State Palace on Tuesday.

Sri Mulyani was the first figure to come to the palace on Tuesday in a string of meetings since Monday morning between the President and numerous high-profile figures -- including professionals and current ministers – to discuss ministerial positions in his second-term Cabinet.

She is expected to spearhead sweeping tax reforms that include proposals to lower corporate income tax and broaden the definition of the term permanent establishment (BUT) to tax overseas companies that make profit in the country.

A plan for an omnibus law to change existing laws on value added tax, income tax and general taxation was announced by the government in September as part of broader structural reforms to lure more foreign direct investment to the country, which is one of the top priorities set out by Jokowi for his second term. 

Sri Mulyani, who had also served as finance minister during the administration of former president Susilo Bambang Yudhoyono, said she was honored to be trusted with managing the country's fiscal policy in the next Cabinet, adding that she was open to adjusting policies at a time of turbulent external conditions affecting the economy.

"We are open to the current dynamics. No policies are static by nature," said Sri Mulyani. "We have to keep looking at the dynamics of the economy, at our resources and at things that need to be improved."