The money supply in Georgia has increased and reached a new record level, Trend reports referring to the National Bank of Georgia.

M2 – broad money, which unites cash in national currency, as well as current accounts and deposits – increased in July by 8 percent compared to the beginning of the year and by 18 percent compared to the same period last year – to 14.815 billion lari ( $4.7 billion). In July 2020, M2 reached 2.557 billion lari ($823 million).

Along with M2, other currencies also increased. In particular, M1 – cash, current accounts, and demand deposits – increased by 6 percent in 7 months and by 15 percent in 1 year – up to 10.6 billion lari ($3.4 billion).

M0 – the amount of cash outside banks increased to 3.7 billion lari ($1.1 billion). Decreased by 5 percent compared to the same period last year. Cash in circulation both in banks and outside banks since July 2020 has grown by 7 percent to 4.6 billion lari ($1.4 billion).

As for M3, which, among other things, combines deposits in foreign currency, its volume increased by 4 percent over the past 7 months and by 17 percent over the last year to 31.5 billion lari ($10.1 billion).

Source: TREND News Agency