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The money supply rose by 5.9% to PLN 284.7bn

2000-07-17 00:00
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2000-07-17 00:00

The money supply rose by 5.9% to PLN 284.7bn

The money supply rose by 5.9% to PLN 284.7bn (USD 65.75bn) in June. It resulted mainly from the debt increase of individuals that grew 25% to PLN 50.7bn. The companies' debt climbed only 2% to PLN 152.3bn, while their deposits jumped 18.3% to 63.4bn. The exuberant debt increase is connected with the public offer of petrochemical giant PKN Orlen as retail investors bought stocks on credit. High leverage caused the reduction rate to exceed 90%. RPP member Grzegorz Wojtowicz said that June data is not worrisome and the Council will wait until July to assess the impact of credit growth on the overall economy.

Źródło:IntelliNews Daily
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