Jakarta: Broad money (M2), as a measure of liquidity in the economy, remained its positive growth in February 2022, according to Bank Indonesia (BI).
Totalling Rp7,672.4 trillion, M2 grew 12.5% (yoy), remained strong compared to 12.8% (yoy) in January 2022.
The positive growth was supported by narrow money (M1) (18.3%, yoy) and quasi-money (5.9%, yoy).
"Faster credit growth were the main affecting factors of M2 development in February 2022, amidst moderation of fiscal expansion and Net Foreign Assets (NFA)," BI Communication Department Head Erwin Haryono said in a press release on Thursday.
The growth of loans disbursed by the banking industry increased to 5.9% (yoy) in February 2022 from 5.4% (yoy) the month earlier.
Meanwhile, moderation of fiscal expansion is reflected in the growth of net claims on Central Government which decelerated to 42.7% (yoy) from 48.1% (yoy) in January 2022.
Net foreign assets grew 1.4% (yoy) in February 2022, compared to 1.8% (yoy) in the previous month.
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