M2 reaches record level as of July

The M2 aggregate, an indicator which measures the money supply, in July reached the highest level of monthly growth it has recorded this year, increasing 9.9 billion Sk ($282.9 million). On a year-on-year basis this represents a 9% growth. The total volume of the M2 aggregate, as of the end of July, reached 460.9 billion Sk ($13.17 billion). July's M2 growth was sparked mainly by foreign loans taken by the government. In July, net loans to the government grew by 10.5 billion Sk ($300 million), to 114.4 billion Sk ($3.27 billion).