YEAR-END MONEY SUPPLIES ESTIMATED AT RP630 TRILLION

by Andi Abdussalam

Jakarta, Dec 26 (Antara) - Public spending during the Christmas and New Year Holidays is high, with the central bank, or Bank Indonesia (BI), estimating money in circulation during the period amounts to Rp630 trillion.          The value of cash supply at the end of this year rose by 6-7.5 percent compared to 2015, which was valued at Rp586.7 trillion.          According to BI Deputy Director for Money Management Yudi Harymukti in Jakarta on December 21, the money in circulation during Christmas and New Year holidays is relatively lower than during the Muslim-Ied Fitr post-fasting month, or Lebaran, festivities.          BI's estimate suggests the amount of money in circulation during the year-end period is some 2 to 3 percent lower than during Muslim Lebaran festivities.          During Lebaran holidays last July, the amount of money in circulation was recorded at Rp642 trillion, up 6.4 percent from figures recorded during Lebaran in 2015, which stood at Rp603.5 trillion.          The estimate on the increase in cash requirements is based on the BI's assessment of the country's good economic condition and strong growth.