JAKARTA - Bank Indonesia (BI) recorded that economic liquidity or money was circulated in a broad sense (M2) in January 2023 to Rp8,271.7 trillion.
Where this amount grew 8.2 percent compared to the same period the previous year (year on year/yoy) to IDR 8,271.7 trillion.
Executive Director of the BI Communication Department Erwin Haryono said the development was mainly driven by the growth of money in circulation in a narrow sense (M1) of 8.5 percent (yoy).
"The development of M2 in January 2023 was mainly driven by lending and net bills to the central government," he said in a written statement, Friday, February 24, 2023.
Credit disbursement in January 2023 grew by 10.2 percent (yoy), after growing 11 percent in the previous month in line with productive and consumptive credit developments.
Meanwhile, net bills to the central government contracted by 20.5 percent (yoy), after the previous month contracting by 13.9 percent (yoy).
Loans are limited only in the form of loans (Loans), and do not include financial instruments combined with loans, such as securities (debt securities), acceptance bills (bankers' acceptances), and repo bills.
In addition, the credit given does not include credit given by commercial bank offices domiciled abroad, and loans disbursed to the central government and not residents.
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