BI Records Money Circulating Reaches IDR 9,026.2 Trillion In June 2024

Rupiah (Photo: Antara)

JAKARTA - Bank Indonesia noted that economic liquidity or money circulated in a broad sense (M2) in June 2024 grew higher.

Meanwhile, M2's position in June 2024 was recorded at IDR 9,026.2 trillion or grew by 7.8 percent on an annual basis, aka year on year (yoy). This figure is higher than the growth in the previous month of 7.6 percent (yoy).

Assistant Governor of Bank Indonesia Erwin Haryono revealed that this development was mainly driven by narrow money supply (M1) growth of 7.0 percent (yoy) and quasi money of 7.7 percent (yoy).

"The development of M2 in June 2024 was mainly influenced by the development of lending and net foreign assets," Erwin said in his official statement, quoted on Tuesday, July 23.

Erwin said that credit disbursement in June 2024 grew by 11.5 percent (yoy), relatively stable compared to the previous month's growth of 11.4 percent (yoy).

Net foreign assets grew by 3.1 percent (yoy), better than May 2024's growth of 0.6 percent (yoy). Meanwhile, net bills to the Central Government grew by 14.0 percent (yoy), after growing by 22.7 percent (yoy) in May 2024.