Indonesia's money supply rose 10.5 percent in July 2020: BI

Indonesia's money supply rose 10.5 percent in July 2020: BI

Illustration - An officer arranged piles of banknotes as part of preparation to fill ATM ANTARA FOTO/Dhemas Reviyanto/foc.)

Liquidity in the country's economy (broad money (M2) circulation) in July was supported by narrow money (M1) and quasi-money.
Jakarta (ANTARA) - Indonesia's money supply (M2) increased 10.5 percent year-on-year (yoy) in July 2020 to reach Rp6,567.7 trillion as compared to a month earlier, according to Bank Indonesia (BI).

"Liquidity in the country's economy (broad money (M2) circulation) in July was supported by narrow money (M1) and quasi-money," Executive Director of the BI Communication Department Onny Widjanarko noted in a statement here on Monday.

M1 rose 13.1 percent yoy in July, from 8.2 percent yoy a month earlier, driven by currency outside banks and rupiah demand deposits, he pointed out.

Quasi-money growth was recorded at 9.7 percent yoy in July as compared to 8.1 percent yoy in the previous month, he noted.

Meanwhile, non-equity securities recorded slower growth, at 4.9 percent yoy in July, from 31.4 percent yoy a month ago.

The increase in M2 in July was caused by a 17.6-percent rise in net foreign assets as compared to 12.1 percent a month before, he remarked.

The amount of loans channelled in July grew stable at 1.0 percent yoy, he added.

The government's finances grew positively, albeit at a slow pace, as mirrored by the growth of net claims on the central government that slowed down to 40.8 percent in July, from 43.2 percent a month earlier.
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