MONEY SUPPLY MAINTAINED POSITIVE GROWTH IN APRIL 2023
Broad money (M2), as a measure of liquidity in the economy, maintained positive growth in April 2023. The M2 position in April 2023 stood at Rp8,350.4 trillion, growing 5.5% (yoy) after expanding 6.2% (yoy) in March 2023. M2 developments in the reporting period were primarily driven by narrow money (M1)[1] growth of 3.4% (yoy).
Based on the affecting factors, M2 growth in April 2023 was primarily influenced by disbursed loans. Disbursed loans[2] in April 2023 remained solid and grew 8.0% (yoy) after increasing 9.8% (yoy) the month earlier, in line with the performance of productive and consumptive loans. On the other hand, growth of Net Foreign Assets (NFA) in April 2023 stood at 11.0% (yoy) compared with 9.9% (yoy) the month earlier. Meanwhile, net claims on central government contracted 25.3% (yoy) in April 2023 after contracting 25.7% (yoy) in March 2023.
More information on statistics concerning money supply as well as relevant analyses are accessible via this link.
[1] Since the September 2021 position, M1 comprises currency outside banks (COB), rupiah demand deposits and rupiah saving deposits that can be withdrawn at anytime. Further explanation concerning the recent reclassification is available in Broad Money and Affecting Factors, August 2021.
[2] Disbursed loans are limited to loans and exclude loan-type financial instruments, such as debt securities, banker's acceptances and repo claims. In addition, disbursed loans also exclude loans disbursed by offshore branches of locally incorporated commercial banks as well as loans allocated to the central government and non-residents.
First, please LoginComment After ~