Money Supply Growth Accelerates in October 2021: BI

akarta: As a measure of liquidity in the economy, broad money (M2) growth accelerated faster in October 2021, Bank Indonesia (BI) has said.
 
Totalling Rp7,490.7 trillion, M2 growth accelerated to 10.4% (yoy) in the reporting period from 8.2% (yoy) one month earlier, primarily driven by 14.6% (yoy) growth of narrow money (M1)[1] and 6.0% (yoy) growth of quasi-money.
 
Based on the affecting factors, Net Foreign Assets (NFA) and Net Domestic Assets (NDA) were the main contributors to faster M2 growth in October 2021. 

"NFA growth increased to 5.7% (yoy) from 5.0% (yoy) in September 2021," BI Communication Department Head Erwin Haryono said in a press release on Tuesday.
 
Meanwhile, NDA growth ticked upwards to 12.1% (yoy) from 9.3% (yoy) in the reporting period in line with faster growth of net claims on the Indonesian government and outstanding loans disbursed by the banking industry. 
 
Net claims on the Indonesian government increased from 16.1% (yoy) in September 2021 to 30.4% (yoy) in October 2021, while disbursed loans grew 3.0% (yoy), up from 2.1% (yoy) the month earlier.
 


 
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