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Communication Department​

12/1/2023 12:00 AM
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Positive Broad Money Growth Maintained in October 2023

Press Releases

No.25/320/DKom ​​

As a measure of liquidity in the economy, broad money (M2) maintained positive growth in October 2023. The M2 position in October 2023 stood at Rp8,505.4 trillion, with growth recorded at 3.4% (yoy) after expanding 6.0% (yoy) the month earlier. Quasi-money growth of 7.8% (yoy) was the main contributor to the M2 developments.

Based on the affecting factors, M2 growth in October 2023 was primarily influenced by disbursed loans. Growth of disbursed loans[1] in October 2023 was recorded at a relatively stable 8.7% (yoy). On the other hand, Net Foreign Assets (NFA) in the reporting period grew 4.9% (yoy) after expanding 6.0% (yoy) one month earlier. Meanwhile, the position of net claims on central government (NCG) contracted 8.8% (yoy) in October 2023 after growing 13.2% (yoy) the month earlier.


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

​Jakarta, 29th November 2023

Communication Department

Erwin Haryono

Executive Director

[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.


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