Money supply in December 2025

In December 2025, the M3 money supply increased by PLN 44.9bn. The increase was mainly driven by a rise in the value of deposits and other claims of non-financial corporations and households.

Data released by Narodowy Bank Polski on 26 January 2026 show that at the end of December 2025 the M3 aggregate amounted to PLN 2,737.7 billion, i.e. PLN 44.9bn more than at the end of November 2025.

In December 2025, the value of deposits and other claims of non-financial corporations included in the M3 aggregate increased by PLN 31.8bn, i.e. 5.6%, and amounted to PLN 598.9bn, and the value of household deposits and other claims of households increased by PLN 26.3bn, i.e. 1.9%, to PLN 1,436.9bn. The value of deposits and other claims of the local government sector decreased by PLN 17.2bn, i.e. 14.8%, to PLN 98.9bn.

The net debt of central government entities increased by PLN 34.8bn, i.e. 6.0%, to PLN 618.5bn. The net debt of the local government sector increased by PLN 8.5bn, i.e. 10.5%, to PLN 89.1bn, household debt increased by PLN 2.3bn, i.e. 0.3%, to PLN 830.6bn, and the debt of non-financial corporations decreased by PLN 7.7bn, i.e. 1.6%, to PLN 461.6bn.