Money supply in July 2021

In July 2021, the value of the M3 money supply increased by PLN 18.5bn. The growth was mainly driven by an increase in deposits and other claims to non-financial corporations and households.

Data released by Narodowy Bank Polski on 23 August 2021 show that at the end of July 2021 the M3 aggregate amounted to PLN 1,894.5bn, i.e. it was PLN 18.5bn higher than at the end of June 2021.

In July 2021, the value of deposits and other claims of the sector of non-financial corporations in the M3 aggregate rose by PLN 9.6bn, i.e. 2.5%, to PLN 391.4bn, of households – by PLN 2.3bn, i.e. 0.2%, to PLN 1,005.2bn, and of the sector of other financial institutions – by PLN 1.6bn, i.e. 3.0%, to PLN 54.0bn. The stock of deposits and other claims of the local government sector remained almost unchanged when compared to the June 2021 level.

Household debt increased by PLN 8.2bn, i.e. 1.0%, to PLN 810.3bn, while non-financial corporate debt grew by PLN 3.3bn, i.e. 0.9%, to PLN 369.1bn. The net debt of central government entities decreased by PLN 21.0bn, i.e. 6.1%, to PLN 324.8 billion.