Bank Indonesia announced that economic liquidity or money supply in a broad sense (M2) in May 2021 grew 8.1% YoY or to Rp6,994.9 trillion.

"This achievement slowed compared to the previous month's growth of 11.5% (YoY)," said BI's press release on Tuesday (22/6).

The deceleration occurred in most components of the narrow money supply (M1) and quasi money. M1 growth in May 2021 was 12.6% (YoY), lower than the April 2021 growth of 17.4% (YoY). Quasi money growth also slowed, from 9.7% (YoY) in the previous month to 6.8% (YoY) in May 2021.

Based on the influencing factors, the slowdown in M2 in May 2021 was mainly influenced by the slowdown in net foreign assets. Net foreign assets grew 6.4% (YoY), slower than 10.7% (YoY) in April 2021.

Meanwhile, net receivables to the Central Government grew 61.4% (YoY), higher than the previous month's growth of 45.0% (YoY). In addition, credit growth was recorded at minus 1.3% (YoY), alt