The total value of outstanding non-government loans extended by Macedonian banks and saving houses increased by 8.4% y/y to MKD 243.9bn (EUR 3.97bn) at end-July 2014, marginally slowing down from an 8.5% y/y growth at end-June, central bank data showed. The total loan stock is equal to 49% of the projected 2014 GDP, up from 48.9% at end-June.
Loans to non-financial corporations (public and private) rose 6.0% y/y to MKD 140.2bn at the end of last month, slowing from a 6.1% y/y rise at end-June. Loans to households increased 11.8% y/y to MKD 102.6bn with the annual growth rate unchanged from end-June.
The other components of the total loan stock include credit to financial corporations (down 5.6% y/y to MKD 223mn at end-July), loans to non-profit institutions serving households (down 6.9% y/y to MKD 127mn) and credit to local governments (up 39% y/y to MKD 795mn).
The currency breakdown of the total loan stock showed slower annual growth of the local currency portion, but also a smaller y/y decrease in the foreign currency component. Local currency loans rose 11.3% y/y to MKD 188.9bn at end-July, decelerating from an 11.8% y/y increase a month earlier. Foreign currency loans edged down 0.3% y/y to MKD 55bn at the end of last month, after shrinking 1.4% y/y at end-June.
|Loans, MKD mn|
|Jul'13||Jun'14||Jul'14||% y/y||% m/m|
|- in denars||169,712||188,320||188,858||11.3%||0.3%|
|- in foreign currency||55,186||54,947||55,020||-0.3%||0.1%|
|- in denars||83,338||91,912||91,409||9.7%||-0.5%|
|- in foreign currency||48,859||48,633||48,743||-0.2%||0.2%|
|- in denars||85,494||95,376||96,416||12.8%||1.1%|
|- in foreign currency||6,262||6,203||6,166||-1.5%||-0.6%|
|Source: Central bank|
Macedonia’s October 15 local elections are seen as a popularity test for both the governing Social Democratic Union of Macedonia (SDSM) and for VMRO-DPMNE, which went into opposition in May after ... more
A Macedonian court has sentenced the attacker of a former opposition MP to four years in prison, media in Skopje said on October 12. The assault took place during the protests in the ... more
Macedonia’s FON University, owned by businessman Fijat Canoski, has signed a memorandum of cooperation with investors China’s Yida Construction and local firm FINE to build a university campus ... more