Jakarta: As a measure of liquidity in the economy, broad money (M2) growth accelerated in September 2021, according to Bank Indonesia (BI).
Totalling Rp7,287.3 trillion, M2 growth accelerated to 8.0% (yoy) in the reporting period from 6.9% (yoy) one month earlier, primarily driven by narrow money (11.2% yoy) and quasi-money (4.5% yoy).
"M2 growth in September 2021 was primarily impacted by faster growth of outstanding loans disbursed by the banking industry," said BI Communication Department Head Erwin Haryono in a press release on Monday.
Disbursed loans in September 2021 maintained positive momentum with growth increasing to 2.0% (yoy) from 1.0% (yoy) in the previous period.
On the other hand, Net Foreign Assets (NFA) and Net Claims on Central Government offset further M2 gains.
Net Claims on Central Government decelerated from 21.1% (yoy) in the previous period to 16.1% (yoy) in September 2021.
Meanwhile, NFA growth in September 2021 moderated to 5.0% (yoy) from 6.0% (yoy) in August 2021.
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