BI Reveals Money Circulating In April 2024 Reaches IDR 8,928 Trillion

Rupiah (Photo: Antara)

JAKARTA - Bank Indonesia (BI) revealed that economic liquidity or money supply in a broad sense (M2) in April 2024 experienced growth compared to the same period last year.

BI Assistant Governor Erwin Haryono explained that the M2 position in April 2024 was recorded at IDR 8,928.0 trillion or grew by 6.9 percent year on year (yoy). However, this M2 growth was slightly lower than the previous month of 7.2 percent (yoy).

"This development was driven by the growth of money in narrow circulation (M1) by 5.5 percent (yoy) and quasi money by 8.5 percent (yoy)," said Erwin in a written statement, Monday, May 27.

Erwin said that the development of M2 in April 2024 was mainly influenced by the development of lending and net bills to the Central Government.

Meanwhile, credit disbursement in April 2024 grew by 12.3 percent (yoy), an increase compared to the previous month's growth of 11.9 percent (yoy).

Meanwhile, net bills to the central government grew by 25.8 percent (yoy), higher than growth in March 2024 of 17.9 percent (yoy).

"Then, net foreign assets contracted by 1.1 percent (yoy), stable compared to the previous month's growth," he said.