Bank Indonesia Records Money Circulating Growing Slow In October 2024

Money Circulating (Photo: Antara)

JAKARTA - Bank Indonesia (BI) noted that economic liquidity or money supply in a broad sense (M2) in October 2024 will continue to grow.

Executive Director of the BI Communication Department, Ramdan Denny Prakoso, said that the M2 position in October 2024 was recorded at IDR 9,078.6 trillion or grew by 6.7 percent (yoy), lower than the growth in the previous month of 7.2 percent (yoy).

"This development was driven by the narrow money supply (M1) growth of 7.1 percent (yoy) and quasi money of 4.2 percent (yoy)," he explained in his statement, Friday, November 22.

Denny conveyed that the development of M2 in October 2024 was mainly influenced by the development of lending and net bills to the Central Government (Pempus).

Meanwhile, credit disbursement in October 2024 grew by 10.4 percent (yoy), stable compared to the previous month's growth.

The net bill for the Pempus contracted by 0.1 percent (yoy), after growing by 12.3 percent (yoy) in the previous month.

Meanwhile, net foreign assets grew by 1.6 percent (yoy), after contracting by 0.3 percent (yoy) in September 2024.