Surabaya Bombing Won’t Affect Indonesia’s Economy

Jakarta (TheInsiderStories)Indonesian businessmen said that the bomb blasts in three churches in Surabaya, East Java, will not affect the country’s economy. They believed that it was only a criminal case that will only cause temporary disruption, the Indonesian Businessmen Association Chairman Hariyadi Sukamdani said on Sunday (13/05).

Surabaya Police spokesman Frans Barung Mangera said that three bombs went off in three locations in Surabaya, namely Saint Mary Immaculata Catholic Church, the Indonesian Christian Church, and the Pentecostal Church, when the churchgoers were attending the Sunday morning services, causing 14 people died and 43 injured.

“Six of the dead victims are the suicide bombers. A family of six who had just returned from Syria are responsible for the terror attacks in the three churches. Mother and two daughters blew themselves in Saint Mary church and the father and his two sons in the other two churches,” said the police.

Early on Monday, another bomb went off in an apartment in Sidoarjo, causing five people injured.

According to Sukamdani, the previous bomb blasts that happened during working days in Indonesia had never caused any serious impact to its economy. He cited the example of bomb blast and shooting case in Thamrin, Central Jakarta, on Jan. 14, 2016 which only slightly affected the capital market during the day. But after that, all went back to normal.

He said that the factors that will affect the economy are not the terrors, but the government’s policies at home and foreign market condition in foreign countries.

The Indonesian Chamber of Commerce and Industry Chairman Rosan Roeslani concurred with Haryadi, saying that Indonesian economy will stay stable. “But due to the terror attack, the government should convince the investors that Indonesia’s economic fundamentals are still solid in Indonesia.

Otherwise, Vice President of Research & Analysis of Valbury Asia Futures Nico Omer Jonckheere judging the incidence of bombing actions in Indonesia received regular response by foreign investors. He said, terrorism action in Surabaya was considered not a big thing that would have a significant impact for the stock market.

In the last two years, foreign investors have become accustomed to the acts of terrorism that occurred in Indonesia. Thus, investors’ response to the stock market becomes less significant.

In addition, the bombing that occurred in Surabaya into the local category, not national. That is, the impact created is not as big as a national tragedy, such as the Bali bombing incident.

Nevertheless, Jakarta Composite Index is not expected to move a lot today. This is because, the trading market conditions in the United States which tend to be flat or flat in trading Friday (11/5).


Indonesia’s President Joko Widodo, accompanied by Police Commander-in-Chief General Tito Karnavian and Military-in-Chief Hadi Tjahjanto and several ministers, made a visit on Sunday afternoon to hospitals in Surabaya where the bomb blast victims are treated.

During a press conference in the Bhayangkara hospital, he strongly condemned the bomb attacks. “All elements of our society should be united to wage war against radicalism and terrorism which are against our religious teachings and cultural values, The police should thoroughly investigate the criminal action, and find who are the mastermind,” he said.

The same condemnation was also expressed by religious organizations and diplomatic community, which include NU, Muhammadiyah, PGI, KWI, and those of Buddha and Hindu.

Several hours after the terror attacks, the Surabaya police raided on Sunday afternoon a house suspected to be owned by the terror suspects in Wonorejo, Surabaya. They found a number of evidences, which include active bombs that had been detonated later by the police bomb squad. The police had also detonated two active bombs on the locations of the churches.