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Monetary indicators – January 2023
At end-January 2023, broad money (M3) amounted to RON 603,696.3 million, up 0.1 percent (down 0.3 percent in real terms1) month on month. In year-on-year comparison, broad money rose by 6.5 percent (down 7.4 percent in real terms).
At end-January 2023 loans to non-government sector granted by credit institutions advanced 0.1 percent (down 0.2 percent in real terms) from December 2022 to RON 364,068.8 million. RON-denominated loans, representing 68.9 percent of total volume of loans to non-government sector, grew by 0.2 percent, whilst foreign currency-denominated loans, holding 31.1 percent of total loans to non-government sector, went down by 0.1 percent when expressed in RON (0.4 percent when expressed in EUR).
In year-on-year comparison, loans to non-government sector advanced 11.5 percent (down 3.1 percent in real terms), on the back of the 6.4 percent increase in RON-denominated loans (down 7.5 percent in real terms) and the 24.9 percent rise in foreign currency-denominated loans expressed in RON (25.5 percent when expressed in EUR).
Credit to general government moved up by 0.6 percent in January 2023 from the previous month, to RON 176,185.4 million. In year-on-year comparison, this indicator expanded by 5.1 percent (down 8.6 percent in real terms).
Deposits of non-government resident customers grew by 0.03 percent month on month to RON 513,502.5 million, while the annual growth rate was 7.2 percent (down 6.8 percent in real terms).
RON-denominated deposits of residents, representing 65.9 percent of deposits of non-government customers, picked up by 0.1 percent to RON 338,413.6 million month on month. In year-on-year comparison, they rose by 10.1 percent (down 4.3 percent in real terms).
RON-denominated household deposits increased by 0.5 percent to RON 179,402.4 million month on month and by 8.4 percent (down 5.8 percent in real terms) year on year.
RON-denominated deposits of other sectors (non-financial corporations and non-monetary financial institutions) decreased by 0.4 percent (to RON 159,011.1 million) month on month and rose by 12.1 percent (down 2.6 percent in real terms) year on year.
Foreign currency-denominated deposits of residents, representing 34.1 percent of the total volume of deposits of non-government customers, went down by 0.1 percent against December 2022 to RON 175,088.9 million when expressed in domestic currency (when expressed in EUR, these deposits increased by 0.4 percent to EUR 35,572.0 million). Compared to January 2022, this indicator grew by 2.1 percent when expressed in RON (2.6 percent when expressed in EUR).
Foreign currency-denominated deposits of households decreased by 0.5 percent from December 2022 to RON 123,724.9 million when expressed in RON (when expressed in EUR, these deposits advanced 0.02 percent to EUR 25,136.6 million). In year-on-year comparison, the indicator expanded by 3.1 percent when expressed in domestic currency (3.6 percent when expressed in EUR).
Foreign currency-denominated deposits of other sectors rose by 0.8 percent against December 2022 to RON 51,364.0 million when expressed in RON (when expressed in EUR, these deposits increased by 1.3 percent to EUR 10,435.4 million). Compared to January 2022, the indicator went down by 0.3 percent when expressed in RON (0.2 percent when expressed in EUR).