The Amount Of Money Circulating Continues To Increase, Until September Tembus Is IDR 7,962 Trillion

Illustration (Photo: Doc. Antara)

JAKARTA Bank Indonesia (BI) stated that the liquidity of the economy or money supply in a broad sense (M2) in September 2022 will continue to grow positively.

Head of the BI Communication Department Erwin Haryono said the position of the September M2 was recorded at IDR 7,962.7 trillion. This figure is said to have grown 9.1 percent when compared to the same period in 2021 or year on year (yoy).

It was stated that this growth continued the previous trend which also rose 9.5 percent last August.

"This development was driven by the growth of money in circulation in a narrow sense (M1) of 13.5 percent and the growth of quasi money by 3.8 percent," he said in a written statement on Monday, October 24.

According to Erwin, the M2 rate last month was mainly influenced by the development of net foreign assets, government finances, and lending.

He said, net foreign assets recorded a contraction of 5.3 percent, after contracting by 4.0 percent in August 2022.

Meanwhile, the monetary system's net bill to the central government contracted 32.5 percent, after the previous month contracting by 22.4 percent.

"On the other hand, credit distribution in September 2022 grew 10.8 percent after the previous month grew 10.3 percent," Erwin concluded.