Indonesia Money Supply Growth Slows in July

Indonesia’s broad money supply (M2) rose 8.3% year-on-year to IDR 10,371.1 trillion in July 2026, slowing from an 8.7% increase in June.

The moderation was driven by slower growth in narrow money (M1), which increased 10.0% from 10.4% previously, while quasi-money growth eased to 5.6% from 6.1%.

Meanwhile, stronger bank lending provided support, with credit growth accelerating to 13.0% year-on-year from 12.1% in June.

Net receivables to the central government also increased 4.6%, although this was slower than the 10.1% growth recorded a month earlier.

The latest data suggest liquidity remained supportive of economic activity, with stronger credit growth partly offsetting the moderation in overall money supply growth.