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.
To anticipate a shortage of cash and the public's money being withdrawn from banks, BI is preparing cash reserves of Rp88 trillion to Rp94 trillion, marking a 10 percent increase from 2015, when BI prepared reserves of Rp85.6 trillion. Public non-cash transaction activities began to increase this year.
"Although non-cash transactions have begun to increase, the public's cash transactions have also increased due to the fact that the country's economy is recovering," remarked Yudi Harymukti.
The central bank estimated that the withdrawal of cash is increasing by 3 to 10 percent year-on-year because of several factors such as the high number of holidays during December 2016, which had nine holidays compared to only seven in December last year.
Besides that, the increase in cash withdrawals was also influenced by the disbursement of the central and regional governments' budgets as well as by the private sector.
The increase in the need for cash is also attributable to the circulation of 11 new currency denominations, issued this year.
The estimate of the increase in cash supplies this year is based on the annual average trend over the past decade, which hovers around 12.8 percent.
Regarding the distribution points of cash supplies, BI predicted the main point will still be at BI headquarters in Jakarta, with a rate of 28 percent of cash distribution. Others will be in Java, with 24 percent, and Sumatra, 10 percent.
"We predict that Kalimantan will supply Rp8.5 trillion; Sulawesi, Maluku, and Papua, Rp12.6 trillion; and Bali and Nusa Tenggara, Rp4.3 trillion," stated Yudi.
On the issuance of new notes, BI said some 98 percent of new money will be denominations of over Rp20,000 while the remaining two percent will be smaller denominations of Rp20,000 and below.
In the meantime, private and state banks in various regions are also preparing cash supplies to face the Christmas and New Year holidays.
State-owned bank BRI, for example, has prepared some Rp17 trillion to meet the people's need for cash transactions during the Christmas and New Year holidays.
Bank BRI Secretary Hari Siaga Amijarso said in a press statement in Jakarta on Thursday (Dec 22) that some 8.5 trillion will be distributed through its Automatic Teller Machine (ATM) booths. The remaining Rp8.5 trillion will be used to meet the need for cash at branch offices.
"The cash is being distributed to 467 branch offices and to over 23 thousand BRI ATM booths across the country," Hari remarked.
BRI has guaranteed the 24-hour availability of its ATM booths during the Christmas and New Year holidays.
The bank has also guaranteed 24-hour services through SMS banking, Mobile Banking, and the Call BRI service. The Call BRI service is available on telephone number 14017 and caters to customers all year round, including during the holidays of Christmas and New Year.
Through these 24-hour services, BRI provides customers with transaction facilities such as information on their account balance, account transfers, purchase of cellular phone minutes, bill payment to state-owned electricity company PLN, water bill payments, telephone bill payments, credit card payments, (air plane/bus) ticket purchases, and taxes.
BRI has pledged to continue opening its branches on regular business days until the year end, but will be closed during the Christmas and New Year holidays, as decided by the government.
During the joint holiday on Dec 26, BRI will keep open 233 branches across the country, particularly for the provision of customer service and to assist its cooperation partners' customers, such as with the purchase of fuel and non-fuel oils from refueling stations or from state-owned oil and gas company Pertamina.
Private banks are also preparing cash supplies for the Christmas and New Year holidays.
PT Bank Danamon, for example, has set aside Rp2 trillion for its ATM transactions.
"The Rp2 trillion will be distributed to Danamon's ATM booths across the country," Danamon Director for Sharia Operation Affairs Herry Hykmanto stated on Wednesday (Dec 21).
(A014/INE )EDITED BY INE(T.A014/A/BESSR/A. Abdussalam) 26-12-2016 16:3 |
Tidak ada komentar:
Posting Komentar