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Bulgaria: Lending Growth Close to Freezing Point
The increase in deposits also decelerates. The annual rate of growth of money supply (measured by means of the M3 aggregate) slowed down in October to 8.6% (it was 8.8% in the previous two months), Raiffeisen Research says.
Bulgaria: Lending Growth Close to Freezing Point / Picture: © Vindobona.org
The largest contribution to this increase was made by the deposits with agreed maturity up to 2 years (3.0 p. p.) which grew by 5.4% in the last 12 months, as well as the overnight deposits (2.8 p. p.) which had an annual increase of 12.3%. The deposits redeemable at notice up to 3 months and the money outside banks contributed respectively by 1.5 and 1.2 p. p., while…
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