The Amount Of Money Circulating Shrinks In The Beginning Of The Second Semester To IDR 8,350.5 Trillion

Illustration (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) reported that the amount of money in circulation in a broad sense (M2) in July 2023 was IDR 8,350.5 trillion.

Head of the BI Communication Department Erwin Haryono said that the figure rose 6.4 percent year on year (yoy) when compared to July 2022.

"Economic liquidity or money supply in the broad sense that in July 2023 it will grow increasing," he said in a press release today, Monday, August 28.

Despite the annual growth, last month's amount of money was still lower when compared to June 2023 which amounted to IDR 8,372.6 trillion.

Furthermore, Erwin revealed that the development of M2 in July 2023 was mainly influenced by the development of credit disbursement.

He said credit disbursement in July 2023 grew by 8.5 percent year on year. The score increased compared to the achievement in June 2023 of 7.8 percent

On the other hand, net foreign assets grew by 9.0 percent, or higher than the growth in the previous month of 3.1 percent.

"Meanwhile, net bills to the central government (Pepus) contracted by 12.1 percent, after the previous month grew by 1.7 percent," Erwin concluded.