Bosnia’s M1 growth accelerates to 3.1% y/y in June 2013.

By bne IntelliNews August 9, 2013

Bosnia’s money supply aggregate M1 rose 3.1% y/y to BAM 6.3bn (EUR 3.2bn) at end-June, quickening from a 2.6% increase the month before, central bank figures showed. The reading accounted for 22.6% of the forecast full-year GDP, down from 23.0% a year earlier.

M1 growth in June was underpinned by both rising currency in circulation and KM demand deposits.

The broader M2 aggregate grew 5.1% y/y to BAM 15.2bn in June, inching down from a 5.3% growth a month earlier, due to slower increase of other deposits in both foreign and domestic currency.

Quasi money (QM) rose 6.5% y/y to BAM 9bn in June, contributing 3.8 points to the 5.1% y/y M2 growth.

The M2-to-GDP ratio was broadly unchanged in annual terms at 54.9% at end-June.

Bosnia's money supply May'13,y/y,% Jun'13,y/y,% Jun'13,BAM mn
M1 2.6 3.1 6,258.6
Currency in circulation 3.4 3.6 2,441.2
Demand deposits in BAM 2.2 2.8 3,817.4
QM (quasi money) 7.2 6.5 8,976.2
Demand deposits in foreign currency 3.2 6.0 1,156.8
Other deposits in domestic curr. 15.0 14.5 2,776.7
Other deposits in foreign curr. 4.1 2.6 5,042.7
M2 5.3 5.1 15,234.9
M1 2.6 3.1 6,258.6
QM (quasi money) 7.2 6.5 8,976.2
Source: CBBH      
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