Indonesia’s money supply grows to over 480 billion USD in January

25-Feb-2021 Intellasia | Xinhuanet | 7:03 AM Print This Post

Indonesia’s economic liquidity or money supply (M2) in January 2021 amounted to 6,761.0 trillion rupiahs (about 480.2 billion US dollars), up 11.8 percent year-on-year, an official said.

Based on its component, the M2 growth was driven by quasi money, which grew by 9.7 percent year-on-year, lower than the 10.5-percent growth in December last year, particularly for time deposits, Erwin Haryono, executive director of the Communication Department at the Bank Indonesia, said in a statement on Tuesday.

The money supply in the narrow sense (M1) grew by 18.7 percent year-on-year in January 2021, up from 18.5 percent in the previous month, Haryono said.

Based on its affecting factors, the slowdown in M2 growth in January 2021 was influenced by a slowdown in net claims to the central government, he explained.

In January 2021, the growth in net receivables to the government was 54.8 percent year-on-year, down from the previous month’s achievement of 66.9 percent, he added.

Meanwhile, the credit growth in January 2021 improved, he said, adding that this improvement was reflected in credit growth which contracted by 2.1 percent year-on-year, easing from the contraction of 2.7 percent in December.

He also pointed out that the growth in net foreign assets in January 2021 was 14.9 percent, higher than that in December 2020 of 13.6 percent.


Category: Indonesia

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