The Amount Of Money Circulating Is Increasing, Now Reaching IDR 8,372 Trillion

Illustration (Photo: Doc. Antara)

JAKARTA Bank Indonesia (BI) reported that the amount of money circulating in a broad sense (M2) in the June 2023 period was IDR 8,372.6 trillion. Head of the BI Communications Department Erwin Haryono said the number rose 6.1 percent on an annual basis or year on year (yoy).

"The liquidity of the economy in June 2023 is growing stable," he said in a written statement on Thursday, July 27.

Erwin said the amount of money in circulation was relatively the same when compared to May 2023 despite the increase. VOI noted that the M2 position in May 2023 was IDR 8,332.3 trillion.

"This development (increases) was mainly driven by the growth of quasi money by 9.1 percent (yoy)," he said.

In addition, Erwin continued, the development of M2 in June 2023 was also influenced by the development of credit disbursement.

He noted that credit disbursement in June 2023 grew by 7.7 percent (yoy), after growing 9.5 percent (yoy) in the previous month in line with productive credit distribution.

On the other hand, net foreign assets grew by 3.1 percent (yoy), after the previous month grew 9.2 percent (yoy).

"Meanwhile, net bills to the central government (Pempus) grew by 1.7 percent (yoy), after contracting by 19.8 percent in the previous month (yoy)," Erwin concluded.