Indonesia's money supply grows by 8 pct in September 2021

Source: Xinhua| 2021-10-25 20:25:57|Editor: huaxia
Video PlayerClose

JAKARTA, Oct. 25 (Xinhua) -- Indonesia's economic liquidity or money supply in a broad sense (M2) in September 2021 was recorded at 7,287.3 trillion rupiahs (513.7 billion U.S. dollars) or grew 8.0 percent year-on-year (yoy), higher than the previous month's growth of 6.9 percent (yoy), the central bank said.

"The increase was mainly driven by the higher growth in the narrow money supply component (M1) which reached 11.2 percent (yoy) and quasi money which grew 4.5 percent (yoy)," Bank Indonesia's spokesman Erwin Haryono said in a statement on Monday.

The M2 growth in September 2021 was mainly influenced by lending, Haryono said, adding that loan distribution grew by 2.0 percent (yoy), up from 1.0 percent (yoy) in the previous month.

However, the slowing growth in net receivables to the central government and net foreign assets restrained higher growth in the money supply, he added.

The net receivables to the central government grew by 16.1 year (yoy), slowing from 21.1 percent (yoy) in the previous month, and the net foreign assets grew by 5.0 percent (yoy), lower than the growth in August 2021 which reached 6.0 percent (yoy), he noted. Enditem

KEY WORDS: Indonesia,Money Supply