Broad Money Growth Accelerated in May 2024

​​No.26/126/DKom

As a measure of liquidity in the economy, Broad Money (M2) growth accelerated in May 2024. The position stood at Rp8,965.9 trillion in May 2024, with higher growth of 7.6% (yoy) compared with 6.9% (yoy) the month earlier. Narrow Money (M1) and Quasi-Money were the main contributors to M2 developments in the reporting period, posting 6.3% (yoy) and 8.8% (yoy) growth, respectively.

Based on the affecting factors, M2 growth in May 2024 was primarily influenced by disbursed loans and Net Foreign Assets (NFA). Disbursed loans[1]in May 2024 grew 11.4% (yoy) after growing 12.3% (yoy) the month earlier. Net Foreign Assets (NFA) grew 0.6% (yoy), improving from a 1.1% (yoy) contraction the month earlier. Meanwhile, Net Claims on Central Government (NCG) grew 22.7% (yoy) in May 2024 after growing 25.8% (yoy) in April 2024.

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

Jakarta, 21thMay 2024

Communication Department

Erwin Haryono

Assistant Governor​

[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.