Bulgaria’s M3 money supply growth speeds up to 9.1% y/y at end-Aug

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Bulgaria’s M3, the broadest gauge of money supply, increased 9.1% year-on-year to 107.4 billion levs ($64.3 billion/54.9 billion euro) at the end of August, up from an annual growth rate of 8.7% at the end of July, the central bank said on Wednesday.

The narrowest measure of money supply, M1, soared 33.7% on the year to 77.5 billion levs at the end of August, after a 33.2% annual rise at the end of July, BNB said in a statement.

Net foreign assets increased 9% year-on-year at the end of August, reaching 64.2 billion levs. Net domestic assets added 8% to 66.1 billion levs.

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