Skopje, 21 June 2022 (MIA) – In May this year, total deposits on an annual basis increased by 2.4 percent with an increase in deposits of the household sector, and total loans increased by 9.9 percent, reflecting the higher lending in both sectors, which is more pronounced in the corporate sector, according to the National Bank. “In May 2022, the broad money (monetary aggregate М31,2) fell by 0.1% on a monthly basis, primarily as a result of the decrease in short-term deposits, currency in circulation and long-term deposits up to two years, and in conditions of increase in demand deposits. On an annual basis, the broad money increased by 2.7%, almost entirely due to the increase in short-term deposits, amid fall of long-term deposits up to two years and currency in circulation,” the National Bank said. In May this year, reads the press release, total deposits remained unchanged compared to the previous month. The annual change was positive and equaled 2.4%, which entirely stems from the increase in household deposits. “The total loans this month registered monthly increase of 0.8%, given increased lending with both sectors, with larger contribution of the household sector. The annual growth of 9.9% reflects the higher lending to both sectors, which is more pronounced in the corporate sector,” the press release adds. In May, the outstanding amount of corporate deposits increased by 0.1% on a monthly basis, primarily as a result of the increased demand deposits, and to a lesser extent of the long-term denar deposits, amid fall in other components. “Compared to May last year, the outstanding amount of corporate deposits reduced by 1.6% which is mostly due to the decrease in long-term foreign currency deposits, as well as short-term and long-term denar deposits, and to a lesser extent the demand deposits, amid increase in short-term foreign currency deposits. This month, corporate loans registered a monthly and annual growth of 0.5% and 11.9%, respectively, due to the growth of denar and foreign currency loans, which is more pronounced in denar loans,” says the National Bank. Household deposits in May increased by 0.2% compared to the previous month. “The growth is mainly due to the increase in short-term foreign currency deposits, amid additional positive contribution of demand deposits and long-term foreign currency deposits, and in conditions of decline in long-term and short-term denar deposits. The annual growth equaled 4.5% and primarily reflects the increase in short-term foreign currency deposits, amid slight positive impact of long-term foreign currency deposits and demand deposits, in conditions of decline in long-term and short-term denar deposits. This month, the outstanding amount of household loans grow at a rate of 1.1%, due to increased lending in denars and in foreign currency, slightly more pronounced in denars. Analyzed annually, these loans increased by 8.0% which is largely due to denar loans,” the press release reads. According to the National Bank, In May this year, analyzed by the purpose of loans granted to individuals, consumer and housing loans, as the most common categories, registered a monthly growth of 0.8% and 1.2%, respectively, and an annual growth of 6.9% and 15.8%, respectively.