BNR: Balance of non-government credit extended by credit institutions, up 0.7 per cent in August

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The balance of non-government credit extended by credit institutions increased by 0.7 per cent (0.9 per cent in real terms) in August 2017 compared to July 2017, up to the level of 229.468 billion lei , according to a press release from the National Bank of Romania (BNR) issued on Monday.

According to the cited source, the credit in lei increased by 1.3 per cent (1.5 per cent in real terms), while the foreign currency credit denominated in lei decreased by 0.3 per cent (denominated in euros, the foreign currency credit decreased by 1.0 per cent). On August 31, 2017, non-government credit recorded a 6.5 per cent rise (5.3 per cent in real terms) from August 31, 2016, due to the 16.4 per cent increase in the lei component (15.0 per cent in terms real) and a 5.9 per cent decrease in the foreign currency component denominated in lei (denominated in euros, the foreign currency credit decreased by 8.7 per cent).

Government credit rose in August 2017 by 1.3 per cent compared to July 2017, to 96.943 billion lei. On August 31, 2017, government credit advanced by 11.8 per cent (10.5 percent in real terms) from August 31, 2016.

According to the BNR, broad money (M3) recorded a balance of 330.294 billion lei at end-August 2017. Compared to July 2017, this rose by 1.7 per cent (1.9 per cent in real terms), and from August 2016 the money supply increased by 11.7 per cent (10.4 per cent in real terms).