Indonesian President Joko "Jokowi" Widodo reshuffled his cabinet on Wednesday by replacing major economic ministers in a move aimed at reviving the country's stagnant economy.

Jokowi swore in six new ministers at the Presidential Palace on Wednesday. He reshuffled two key economic ministerial posts and three coordinating ministerial posts. Four ministers lost their jobs in the move, while two were demoted to less important portfolios, according to The Jakarta Post.

Indonesia's President appointed Darmin Nasution, a former central bank governor, as the new economic minister, replacing Sofjan Djalil. Djalil replaced Andrinof Chaniago as the National Development Planning Minister/National Development Planning Board (Bappenas), according to Antara News.

Thomas Lembong, former official of the Indonesian Bank Restructuring Agency (BPPN), was appointed as new trade minister. Jokowi also appointed his chief of staff Luhut Panjaitan as the new coordinating minister for politics, law and security, a prominent economist Rizal Ramli as the coordinating maritime minister and senior member of Indonesia Democratic Party of Struggle Pramono Anung as new cabinet secretary.

The cabinet reshuffle comes amid criticism of the government over its underperforming economy and continuously falling currency. The biggest economy of South East Asia has posted the slowest growth rate in six years of 4.71 and 4.67 per cent in the first and second quarters, respectively, Bernama reported.

"Our country's economic slowdown is a consequence of sluggish growth around the world. It's not only Indonesia ... Just watch what happens in the second half of the year," Jokowi said two days before the reshuffle at the Indonesia Stock Exchange's (IDX) 38th anniversary in Jakarta on Monday, according to The Jakarta Globe.

"We have to admit that only a small amount of the budget was realized in the first half ... but we will boost spending in the second half."

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