Jakarta - Bank Indonesia (BI) noted that economic liquidity or broad money supply (M2) in March 2024 grew higher.
M2 position in March 2024 was recorded at Rp8,888.4 trillion or grew by 7.2 percent (year on year / yoy), higher than the previous month's growth of 5.3 percent (yoy).
This was conveyed by Assistant Governor of the Communication Department of Bank Indonesia (BI) Erwin Haryono in a written statement received on Friday (26/4/2024).
According to Erwin, this development was driven by the growth of narrow money supply (M1) by 7.9 percent (yoy) and quasi money by 6.2 percent (yoy).
He added that the development of M2 in March 2024 was mainly influenced by the development of lending and net bills to the Central Government.
"Lending in March 2024 grew by 11.8 percent (yoy), an increase compared to the previous month's growth of 11.0 percent (yoy)," Erwin said.
He also shared that net receivables to the Central Government grew by 18.0 percent (yoy), after contracting by 1.0 percent (yoy) in February 2024. Meanwhile, net foreign assets contracted by 1.1 percent (yoy), after growing by 2.3 percent (yoy) in the previous month. (InfoPublik)