The National Bank of Belarus officially states: the growth rate of money supply in the republic is slowing down.
Thus, in November, the broad money supply increased by 17% year-on-year, while in November last year it increased by 29.5%.
The growth rate of the average ruble money supply in November 2024 was +29.7%, and in November 2023 – plus 35.4%.
The regulator's press service also spoke about the consequences of the ongoing processes of devaluation of the economy in the country.
Something similar in November 2024 led to an increase in the share of the ruble component in the average broad money supply - to 59.8% from 53.9% a year earlier.
The National Bank states that term ruble deposits in banks remain attractive in Belarus.
Last November, their volume (average value) increased: for individuals – by 36.5%, for legal entities – by 53%.
This led to an increase in the share of such deposits (both individuals and legal entities) in the average ruble money supply.
Over the past year, the figure has risen to 42.6% from the previous 38.2%.
The share of the ruble aggregate M1 (which includes the most liquid monetary assets, in particular, cash in circulation and transferable deposits) in the average ruble money supply decreased by 2.7% over the year.
The annual growth rate of the average value of the M1 aggregate slowed to 23.5% in November 2024 from 34.6% a year earlier.
In particular, the percentage of cash in circulation decreased to 26.6% from 41.1%.
