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ECONOMIC BRIEFS

M2 money supply rises 7.31% y-o-y in July 1999

Slovakia saw a 7.31% growth in its money supply in July compared to the same month last year, almost the same figure as in June (7.33% annualised).

The money supply, which measures net domestic assets and is expressed as the 'M2 aggregate,' hit 492.9 billion Slovak crowns in July, up 1.8% in a month. M2 includes 'basic money' - notes and coins held by the public, along with the private sector's current and checking accounts - as well as quasi-money - time deposits and deposits in foreign currencies.

Seven months into 1999, the M2 figure remains within the limits set in the central bank's revised monetary programme for 1999. The bank projects M2 growth at 6 to 8.8% this year.

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