The Regional Representative Office of Bank Indonesia (BI) NTT reported that the realization of cash needs in NTT during Christmas 2022 and New Year 2023 reached IDR 1.86 trillion, below the banking projection of IDR 2.1 trillion.
"The data on cash needs is a cash outflow from BI which is withdrawn by banks in NTT to meet customer demand and meet ATM occupancy rates during the Christmas and New Year holidays," said Head of BI NTT Representative Donny H Heatubun as quoted by Antara, Tuesday, January 17.
Based on the region, he continued, the withdrawal of money made in Kupang City reached Rp. 814 billion (43.71 percent), Flores Island reached Rp. 342 billion, on Sumba Island it was Rp. 292 billion, in the Alor and Lembata areas it was Rp. 134 billion, and at the Atambua border it was Rp. 127 billion.
To ensure that cash needs in the community can be met, his party, among others, coordinates with banks in NTT in the form of providing adequate cash of IDR 3.85 trillion throughout the end of 2022.
Then increase the number of cash exchange points, both through mobile cash and banking cash by 101 locations, an increase of 8 percent compared to the previous year.
In addition, also exchange small denominations using a BI mobile cash car, as well as ensuring ATM reliability.
"The latter continues to encourage people to use non-cash payment transactions, including QRIS, electronic money, BI-FAST, and digital banking, which can minimize physical contact in transactions," he said.
Nevertheless, he said, when compared to the realization in December 2021 which reached IDR 2.34 trillion, there was a decrease in December 2022 by 21.1 percent.
This is thought to be due to several factors including weakened household consumption rates, declining fiscal budgets, and high inflation.
The total government budget in NTT (APBN & APBD) in 2022 is provided at IDR 49.15 trillion, lower than the previous year of IDR 51.38 trillion, or a decrease of 4.34 percent (YoY).
Then inflation at the end of 2022 reached 6.65 percent (yoy), while at the end of 2021 it was only 1.67 percent (yoy).
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