(Updates with Yudhoyono’s comment in fifth paragraph.)
Oct. 13 (Bloomberg) -- Indonesian President Susilo Bambang Yudhoyono, is “finalizing” changes he will make to his cabinet, and the reshuffle is “on time,” he said at a press briefing today at his residence in Bogor, West Java.
The president has been in “intensive” talks with Vice President Boediono about the changes, Daniel Sparringa, a presidential spokesman, told reporters in Jakarta on Oct. 7.
Yudhoyono is struggling to recover from a drop in public approval amid corruption scandals affecting members of the ruling party. Corruption, government inefficiency and poor infrastructure were among reasons cited in the World Economic Forum’s 2011-2012 Global Competitiveness Report for Indonesia falling two places to 46th out of 142 economies. Public support for the president fell to a record low of 47.2 percent in a June poll conducted by Indonesian Survey Circle.
Yudhoyono, who helped secure a second five-year term in 2009 by promising to clean up graft, said last month he would carry out the reshuffle by Oct. 20.
“I will announce the result in the next few days and inaugurate, so they can work immediately to resolve the problems and improve performance to achieve the targets,” he said.
Indonesia is one step away from its first investment-grade credit rating in more than a decade, as Yudhoyono targets growth of as much as 6.6 percent on average through the remainder of his term ending in 2014.
He plans to double spending on roads, ports and airports to $140 billion by then. Toyota Motor Co. and Unilever NV are among companies investing in the $707 billion economy.
--Editor: Greg Ahlstrand
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