The total value of outstanding non-government loans extended by Macedonian banks and saving houses increased 7.6% y/y to MKD 240.1bn (EUR 3.89bn) at end-May, speeding up from a 7.1% y/y growth at end-April, as credit to both nonfinancial corporations and households grew faster, preliminary central bank data showed. The total loan stock is equal to 48.9% of projected 2014 GDP, up from 48.1% at end-April.
Loans to non-financial corporations (public and private) rose 4.8% y/y to MKD 138.8bn at the end of last month, quickening from a 4% y/y rise at end-April. In addition, loans to households increased 11.6% y/y to MKD 100.2bn at end-May, slightly accelerating from an 11.5% y/y growth a month earlier.
The other components of the total loan stock include credit to financial corporations (down 2.5% y/y to MKD 230mn at end-May), loans to non-profit institutions serving households (down 8.4% y/y to MKD 148mn) and credit to the local governments (up 48.9% y/y to MKD 695mn).
The currency breakdown of the total loan stock showed faster annual growth of the local currency portion and a smaller y/y decrease in the foreign currency component. Local currency loans rose 10.5% y/y to MKD 185.8bn at the end of last month, accelerating from a 10.1% y/y growth at end-April. Foreign currency loans fell 1.2% y/y to MKD 54.3bn at end-May, after contracting 2% y/y a month earlier.
|Loans, MKD mn|
|May'13||Apr'14||May'14||% y/y||% m/m|
|- in denars||168,116||182,543||185,816||10.5%||1.8%|
|- in foreign currency||54,956||53,687||54,281||-1.2%||1.1%|
|- in denars||83,879||89,069||90,806||8.3%||2.0%|
|- in foreign currency||48,556||47,466||48,020||-1.1%||1.2%|
|- in denars||83,435||92,486||94,029||12.7%||1.7%|
|- in foreign currency||6,338||6,133||6,169||-2.7%||0.6%|
|Source: Central bank|
International steel and mining company ArcelorMittal said on April 13 it has proposed a divestment package to the European Commission in a bid to obtain approval for its planned acquisition of ... more
Macedonian MPs started debating a no-confidence motion filed by the opposition VMRO-DPMNE party against the government on April 11. The opposition party accused the government of increasing crime and ... more
Boyko Borissov, prime minister of the current EU Council chair Bulgaria, called on April 10 on the leaders of the Western Balkan countries to preserve peace and ... more