Comments on statistics mean a short description of selected, recently issued statistical data in the area of monetary statistics and the non-residents sector statistics.
Comments on statistics
Comments on monetary developments for February 2019
Total liquid assets (M4) stood at HRK 319.5bn at the end of February 2019, down HRK 1.9bn or 0.6% from the end of January 2019 (Table 1). The monthly decrease in this broadest monetary aggregate was predominantly driven by a fall in net domestic assets (NDA) of the monetary system (caused by the growth in the deposits of the general government) and to a smaller degree by the decrease in net foreign assets (NFA). On an annual level, the growth in total liquid assets slowed down substantially in February, to 4.8%, net of exchange rate effects (Figure 1). As regards the components of M4, the annual growth in money (M1) decelerated to 17.1%, primarily due to the slowdown in demand deposits, while the annual fall in quasi-money accelerated to 1.2% at the end of February (net of exchange rate effects).
|Figure 1 Monetary aggregates |
annual rates of change
|Figure 2 Placements |
annual rates of change based on transactions
Total placements of monetary institutions to domestic sectors (excluding the government) went up by HRK 1.2bn in February (transaction-based), ending the month at HRK 224.9bn. The annual growth of total placements continued to accelerate slightly, totalling 5.0% in February. Lending to non-financial corporations went up by 2.8% at the end of February from the same month the year before, while lending to households increased by 6.6% (Table 2). The acceleration in the annual growth of general-purpose cash loans (12.9%) contributed to stronger growth of placements to households, while housing loans slowed down to 3.7% at an annual basis. The annual growth of the nominal stock of total placements (3.5%) remained under the influence of the sale of non-performing placements and continued to be noticeably lower than the transaction-based growth.
Table 1 Summary consolidated balance sheet of monetary institutions
in billion HRK and %
1 The sum total of asset items 2.2 to 2.8 of Bulletin Table B1: Consolidated balance sheet of monetary financial institutions.
2 The sum total of liability items 2 to 5 of Bulletin Table B1: Consolidated balance sheet of monetary financial institutions.
Table 2 Placements (except the central government) and main components
in billion HRK and %
1 In addition to placements to households and corporates, they also include placements to the local government and other financial institutions.
2 The transactions show changes that exclude the effects of exchange rate changes, securities price adjustments, reclassification and write-off of placements, including the sale of placements in the amount of their value adjustment.
For detailed information on monetary statistics as at February 2019, see: