Indonesian President Joko Widodo addresses guests and employees of the Indonesia Stock Exchange during a visit to the exchange in Jakarta, Indonesia on Aug. 10, 2015. Reuters/Darren Whiteside

JAKARTA (Reuters) - Indonesia's president will reshuffle his cabinet on Wednesday, according to two palace officials with knowledge of the matter, replacing ministers mostly in his economic team less than a year after taking office.

As Southeast Asia's largest economy falters, President Joko Widodo has come under mounting pressure from his backing party and the public to reshuffle the cabinet over a perceived failure to manage the economic downturn.

Indonesia's gross domestic product grew at 4.67 percent in the second quarter, its slowest pace in six years.

"Several ministers were called to the palace to discuss the reshuffle," said one palace official.

He said decisions had been made on which ministers would go, but declined to elaborate.

Chief Economic Minister Sofyan Djalil and Trade Minister Rahmat Gobel are among the economic ministers set to be replaced, according to media.