Economic

Veaceslav Ionita: "Last month, for the first time deposits in our banking system exceeded 100 billion lei"

In the coming months, the National Bank of Moldova will continue to loosen monetary policy, which will make Moldovan citizens invest, said economic policy expert Veaceslav Ionita. According to him, at present the lending process of the population remains weak because the interest rate is high. We are witnessing a much faster growth of deposits in banks than the number of loans, he said.

Economic expert Veaceslav Ionita says that by 2021 the volume of new loans contracted per month was at the level of 4.3 billion lei, but lately there has been a decrease. According to him, the population of the Republic of Moldova borrowed from banks on average 2.4 billion lei per month.

"Last month, for the first time deposits in our banking system exceeded 100 billion lei, currently we have 101.4 billion lei. As for loans, the situation remains quite complicated. So far, we have loans of only 61.3 billion lei. Loans are slightly down compared to the end of last year, i.e. we have reached an absolute record of 40.2 billion lei surplus liquidity. We haven't had anything close to that. So in just four months, the liquidity surplus in our banking system increased by 7 billion lei", said Veaceslav Ionita.

The economist estimates that in the coming months, the NBM will continue to relax monetary policy, which will lead people to stop keeping money in banks and invest it.

Olga Mînzat

Olga Mînzat

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