The deposits of Bulgaria's non-government sector increased by a yearly 9.7% in May

The deposits of Bulgaria's non-government sector increased by a yearly 9.7% in May

The deposits of Bulgaria's non-government sector increased by a yearly 9.7% in May, reaching roughly 105.7 billion levs ($56.9 billion/54 billion euro), after growing by an annual 10.1% in April, the central bank, said on Thursday.

At the end of May, the value of deposits was equivalent to 72% of Bulgaria's estimated 2022 gross domestic product (GDP), the Bulgarian National Bank (BNB) said in a statement.

Household deposits increased by 6.2% year-on-year in May to 67.4 billion levs.

At just over 32 billion levs in the review period or 23.2% of the estimated GDP, deposits of non-financial corporations were 16% higher on the year, while deposits of financial corporations rose 19.2% to 4.26 billion levs, after adding 32.1% in April 2022.

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Bulgaria's M3, the broadest gauge of money supply, increased by 10.3% year-on-year

 

Bulgaria's M3, the broadest gauge of money supply, increased by 10.3% year-on-year to roughly 130.4 billion levs ($70.1 billion/66.7 billion euro) in May, the central bank said on Thursday.

The M1 monetary aggregate, the narrowest measure of money supply and the M3's most liquid component, went up by an annual 17.8% to 103.4 billion levs last month, following 18.9% annual growth in April, the Bulgarian National Bank (BNB) said in a statement.

At 71.96 billion levs, net foreign assets in the review period were 2.8% higher compared to May 2021 and about 1% lower than in April 2022. Net domestic assets jumped 15.4% year-on-year to some 82.2 billion levs at the end of last month.

Details follow (in millions of levs unless stated otherwise):

End-May (y/y pct. change) End-Apr (y/y pct. change) M3 130,391 10.3 10.8 M1 104,172 17.8 18.9 M2-M1 26,219 -11.8 -12.6 Net foreign assets 71,959 2.8 7.1 Net domestic assets 82,184 15.3 12.8

Source: BNB

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