BI: Money Issued in September 2024 Recorded at IDR 9,044.9 Trillion

Illustration. (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) said that economic liquidity or broad money (M2) in September 2024 was recorded at IDR 9,044.9 trillion or grew 7.2 percent year on year (yoy), relatively stable compared to growth in the previous month.

"This development was driven by growth in narrow money (M1) of 6.9 percent (yoy) and quasi money of 5.3 percent (yoy)," said Executive Director of the BI Communication Department Ramdan Denny Prakoso in Jakarta, quoted from Antara, Tuesday, October 22.

Ramdan said that the development of M2 in September 2024 was mainly influenced by the development of credit distribution and net receivables to the central government.

Credit distribution in September 2024 increased by 10.4 percent (yoy), remaining high compared to growth in the previous month of 10.9 percent (yoy).

Net receivables to the central government grew by 12.3 percent (yoy), relatively stable compared to growth in the previous month. Meanwhile, net foreign assets contracted by 0.3 percent (yoy), after contracting by 1.1 percent (yoy) in the previous month.

The credit provided is only in the form of loans, and does not include financial instruments that are equated with loans, such as debt securities, banker's acceptances, and repo bills.

In addition, the credit provided does not include credit provided by commercial bank offices domiciled abroad, and credit distributed to the central government and non-residents.