The M1 money supply, as the main monetary aggregate, which includes short-term dinar funds – cash in circulation and retail and corporate sight deposits, increased in Serbia in the first five months of 2020 by 17.8%, that is, by RSD 160.5 billion, as a result of the state's response to the coronavirus pandemic, the National Bank of Serbia (NBS) told Beta this Friday.
As they explained, around a fifth of this amount pertains to an increase of cash in circulation, whereas most pertains to an increase in non-financial sector deposits.
– That the growth of the money supply is not specific to Serbia, but a natural, normal and expected reaction of a responsible state to the crisis is also shown by the fact that it has recorded an increased growth in nearly all countries of the world, due to the measures taken by the states and their central banks so as to protect their economies from the crisis – the NBS pointed out on the occasion of the information that the M1 money supply increased substantially in the first five months.
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