Until November 2023, Money Circulating In Indonesia Reaches IDR 8,573.6 Trillion

Illustration. (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) revealed that economic liquidity or money circulated in a broad sense (M2) in November 2023 grew positively.

Executive Director of the BI Communications Department, Erwin Haryono, said that the M2 position in November 2023 was recorded at IDR 8,573.6 trillion or grew 3.3 percent (yoy), relatively stable compared to the previous month's growth.

"This development was driven by the growth of money in circulation in a narrow sense (M1) of 2.0 percent (yoy) and quasi money of 4.9 percent (yoy)," Erwin said in his statement, Saturday, December 23.

Furthermore, he said, the development of M2 in November 2023 was mainly influenced by the development of lending and net bills to the Central Government (Pempus).

"Credit distribution in November 2023 grew by 9.7 percent (yoy), an increase compared to the previous month of 8.7 percent (yoy)," he explained.

Meanwhile, the net bill to the Pempus contracted by 15.0 percent (yoy), after contracting by 11.7 percent (yoy) in October 2023.

Meanwhile, net foreign assets grew by 0.3 percent (yoy), after growing by 6.1 percent (yoy) in the previous month.

In addition, the government's external debt (ULN) in October 2023 amounted to US$185.1 billion or a truncation from US$188.3 billion in September 2023.

Meanwhile, if you look at the government's external debt growth data, the government's external debt grew 3.0 percent (yoy) in October 2023, or slowed down from growth of 3.3 percent (yoy) in the previous month.