Money Supply Growth Accelerated in March 2022: BI

Jakarta: Broad money (M2) growth, as a measure of liquidity in the economy, accelerated in March 2022, Bank Indonesia has said.

Totalling Rp7,810.9 trillion, M2 growth increased to 13.3% (yoy) in the reporting period from 12.8% (yoy) the month earlier, supported by narrow money (M1) at 18.7% yoy and quasi-money at 6.9% yoy.
"Based on the affecting factors, stronger credit growth was the main driver of M2 gains in March 2022," BI Communication Department Head Erwin Haryono said in a press release on Thursday.

Loans disbursed by the banking industry grew 6.4% (yoy) in March 2022, up from 6.1% (yoy) the month earlier. 

Meanwhile, fiscal expansion moderated in line with net claims on central government, which decelerated from 42.7% (yoy) in February 2022 to 27.9% (yoy) in the reporting period. 

On the other hand, Net Foreign Assets (NFA) experienced a 1.5% (yoy) contraction in March 2022 after expanding 1.4% (yoy) in February 2022.

(WAH)