Indonesia's money supply falls 6.9% YoY in April

Thanks to disbursed loans and net claims.

Indonesia’s broad money (M2) in April fell 6.9% year-on-year (YoY) to  $550b (Rp8,928.0t), mainly influenced by two factors: disbursed loans and Net Claims on Central Government (NCG), data from the Bank of Indonesia showed.

Disbursed loans grew by 12.3% YoY, up from 11.9% YoY in March 2024. Net Claims on Central Government (NCG) increased by 25.8% YoY in April 2024, compared to 17.9% YoY the previous month. 

Net Foreign Assets (NFA) contracted by a relatively stable 1.1% YoY during the reporting period.

On the other hand, narrow money (M1) and Quasi-Money were the primary contributors to the M2 developments, posting growth rates of 5.5% YoY and 8.5% YoY respectively.

($1.00 = Rp16,224.75)