Money supply in May 2021

In May 2021, the M3 money supply increased by PLN 12.0bn. The increase was mainly driven by a rise in deposits and other claims to non-financial corporations.

Data released by Narodowy Bank Polski on 24 June 2021 show that at the end of May 2021 the M3 aggregate amounted to PLN 1,872.0bn, i.e. PLN 12.0bn more than at the end of April 2021.

In May 2021, the value of deposits and other claims of non-financial corporations included in the M3 aggregate increased by PLN 11.5bn, i.e. 3.0%, and amounted to PLN 386.9bn, and the value of local government deposits and other claims of local government increased by PLN 4.3bn, i.e. 6.9%, to PLN 67.2bn. The value of deposits and other claims of other financial institutions increased by PLN 0.8bn, i.e. 1.6%, to PLN 49.8bn. The stock of deposits and other claims to households decreased by PLN 5.3bn, i.e. 0.5%, to PLN 997.2bn.

The net debt of central government entities increased by PLN 3.4bn, i.e. 0.9%, to PLN 363.4bn. Household debt increased by PLN 3.2bn, i.e. 0.4%, to PLN 797.0bn, while non-financial corporate debt decreased by PLN 0.6bn, i.e. 0.2%, to PLN 369.9bn.