Bombings Create Ripples in Stock Market and Economy

The bombings will not have a major impact on the capital market and direct investment, but threaten the tourism sector with the declining number of foreign tourist arrivals.


| Aleksandr Elesin | 123rf.com

The impact of the recent bombings in Surabaya is predicted to not having a significant impact on Indonesia’s economy, and the rupiah exchange rate and stock market were only corrected slightly. Based on previous experience, foreign direct investment (FDI) was not affected by the bombings. However, it threatens the tourism sector, especially foreign tourists coming to Indonesia.

On Sunday (13/5), a number of churches in Surabaya, East Java, were bombed, killing 12 and injuring 41 people. A day later, Surabaya Police Headquarters was also bombed and 10 police officers were injured.

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