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By Maricel E. Burgonio Reporter
THE growth of the country’s
money supply further eased last June, according to the Bangko
Sentral ng Pilipinas (BSP).
In a statement, BSP Governor
Amando M. Tetangco Jr. said domestic liquidity or M3 growth slowed
to 19.4 percent in June from 20.5 percent the month before.
Tetangco said the decline was
brought about by the effective implementation of the BSP’s
liquidity measures, namely its tiering scheme and the expansion of
its special deposit accounts (SDA).
The country’s money supply in
June stood at P3.023 trillion, higher than the P2.531 trillion in
the same month last year.
The growth in net foreign assets
and net domestic assets of depository corporations slowed to 31.1
percent and 3.8 percent, respectively, from 32.4 percent and 5.7
percent in the previous month.
Credit extended to the public
sector expanded at a lower pace of 10.5 percent in June from 11.9
percent in May, contributing to the slowdown in net domestic assets.
Net domestic assets reached
P2.358 trillion.
In contrast, private-sector
credits of P1.955 trillion continued to accelerate from 5.4 percent
to 6 percent during the same period consistent with the economy’s
momentum.
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