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Money in circulation up 12% in 2018
The amount of money in circulation in 2018 is predicted to grow by 10 to 12 percent from Rp 694.8 trillion in 2017, on the back of many political agendas stimulating the economy.
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Bank Indonesia (BI) Governor Agus Martowardojo shows new rupiah banknotes after the launch in this file photo. The central bank estimates that the number of money in circulation will increase by up to 12 percent this year from Rp 694.8 trillion (US$5.18 billion) last year due to increased political activities. (Antara/Yudhi Mahatma)
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he amount of money in circulation in 2018 is predicted to grow by 10 to 12 percent from Rp 694.8 trillion (US$5.18 billion) in 2017, on the back of many political agendas stimulating the economy.
Bank Indonesia (BI) money management head Suhaedi said the central bank projected the average growth of the total currency in circulation (UYD) to be 10 percent. Aside from many upcoming political agendas this year, the growth would also be driven by the acceleration of economic activity.
Read also: BI criticized for burdening consumers with e-money top-up costs“We expect [the growth of total currency in circulation] to hover around 10 to 12 percent. We will continue to monitor the progress, as it all depends on the economic growth factor,” he said on Friday.
Suhaedi assured that economic activity would move faster in 2018 than last year. The central bank projected economic growth in 2018 to be 5.1 to 5.5 percent year-on-year (yoy). (fny/waw)
