National Bank of Romania reports sustained growth in non-government credit and broad money supply

In a freshly published report by the National Bank of Romania, non-government credit expands in November 2023. The credit balance increased by 0.6% compared to October 2023, reaching RON 384.233 billion. This development occurred in real terms, showing a resilience of the financial sector to economic changes.

In detail, credit in lei, with a significant share of 68.5% in the total volume of non-governmental credit, recorded an increase of 0.8%. At the same time, foreign currency credit denominated in lei, with a share of 31.5%, increased by 0.1%, or 0.03% when expressed in euro, reports Agerpres.

Compared to the same period of the previous year, non-government credit grew robustly by 5.4%, with a significant contribution from the increase in the foreign currency component.

In parallel, government credit grew by 5.6% in November 2023 compared to the previous month, reaching a level of RON 194.596 billion. Compared to November 2022, it recorded an increase of 13.1%, reflecting robust developments in this segment.

Broad money (M3) also recorded a significant increase, reaching a balance of RON 648.147 billion at the end of November 2023. This increase of 1.1% compared to October 2023 and 10.9% compared to November 2022 shows an active dynamics of the Romanian financial system.