Economic liquidity or money in circulation in a broad sense (M2) in February 2024 grew positively. The M2 position in February 2024 was recorded at Rp8,739.6 trillion or grew 5.3% year on year (y/y), relatively stable compared to the previous month’s growth of 5.4% (y/y). This development was driven by growth in narrow money circulation (M1) of 5.2% (y/y) and quasi money of 5.3% (y/y).
M2 developments in February 2024 were mainly influenced by developments in credit distribution. Credit distribution in February 2024 grew by 11.0% (y/y), relatively stable compared to the previous month’s growth of 11.5% (y/y). Net foreign assets grew by 2.3% (y/y), after growing by 4.8% (y/y) in the previous month. Meanwhile, net claims to the Central Government (Pempus) contracted by 1.0% (y/y), after growing by 1.9% (y/y) in January 2024.