As a measure of liquidity in the economy, Broad Money (M2) growth was maintained in April 2024. The M2 position stood at Rp8,928.0 trillion in April 2024, with slightly lower growth of 6.9% (yoy) from 7.2% (yoy) the month earlier.  Narrow Money (M1) and Quasi-Money were the main contributors to the M2 developments in the reporting period, posting 5.5 % (yoy) and 8.5% (yoy) growth respectively.

Based on the affecting factors, M2 growth in April 2024 was primarily influenced by disbursed loans and Net Claims on Central Government (NCG). Disbursed loans[1] in April 2024 grew 12.3% (yoy), up from 11.9% (yoy) in March 2024.  Net Claims on Central Government (NCG) grew 25.8% (yoy) in April 2024 after increasing 17.9% (yoy) the month earlier.  Meanwhile, Net Foreign Assets (NFA) in the reporting period contracted by a relatively stable 1.1% (yoy).

More information on statistics concerning broad money as well as relevant analyses are accessible via this link​.

[1] Disbursed loans are limited to loans and exclude loan-type financial instruments, such as debt securities, banker's acceptances and repo claims. In addition, disbursed loans also exclude loans disbursed by offshore branches of locally incorporated commercial banks as well as loans allocated to the central government and non-residents.

Jakarta, 27th May 2024

Communication Department

Erwin Haryono

Governor Assistant​​