The annual growth rate of broad money (monetary aggregate M3) stood at 21% in August 2008, compared to 23.8% in July, data of the Bulgarian National Bank (BNB) show. At the end of August M3 amounted to BGN 45.716 billion (71.2% of GDP). Its most liquid component – the monetary aggregate M1 – increased by 10.2% annually in August (14% growth in July). Quasi-money rose by 31.6% compared to August 2007 (33.7% in July).

Net domestic assets reached BGN 39.133 billion at the end of August 2008, which is a 43.6-percent increase compared to the same month of 2007 (47.8% annual growth in July).

The annual growth rate of their basic component – domestic credit, stood at 43% in August compared to 46.8% in July 2008. Claims on the Non-government sector rose by 48.3%, compared to 51.2% in July.

At the end of August 2008, claims on loans to the Non-government sector stood at BGN 46.882 billion (73% of GDP) and their annual growth rate was 49.5% (52.8% in July). Loans to Non-financial corporations increased by 53.6% annually in August (55% in July) and at the end of the month amounted to BGN 29.212 billion (45.5% of GDP).

Loans to Households and NPISHs (Non-Profit Institutions Serving Households) were BGN 17.138 billion (26.7% of GDP) at the end of August, posting annual growth of 42.5% (48.5% annual growth in July). In August 2008, loans for house purchases grew by 47.3% on an annual basis compared to 50% in July. The annual growth rate of consumer loans was 36.4% in August and 47.2% in July 2008, while that of other loans – 23.8% and 26%, respectively.

The total amount of loans to Financial corporations was BGN 532 million at the end of August 2008 and, compared to August 2007, it increased by 71.7% (79.6% annual growth in July).

The annual rates of changes in claims on loans were influenced by net sales of loans by Other MFIs - their volume for the last 12 months was BGN 2.667 billion. On an annual basis, loans sold amounted to BGN 3.025 billion, while the amount of loans repurchased were BGN 357 million.

Net foreign assets amounted to BGN 18.268 billion at the end of August 2008 and their annual decline remained unchanged from July – 6.3%. The annual growth rate of foreign assets was 29.5% in August 2008 compared to 27.9% in July, while that of foreign liabilities was 113.3% in August and 108.6% in July 2008.