OREANDA-NEWS. August 28, 2012. Belarus’ broad money supply increased 26% in January-July 2012 to 140.143 trillion Belarusian rubles (Br) as of August 1, 2012, Belarus’ monetary authorities said in a report on Tuesday. According to the macroeconomic forecast for 2012, Belarus is supposed to retrain the growth of broad money supply within 22-24%.

Experts attribute the growth of broad money supply to the influx of personal deposits with banks: in June alone cash in circulation expanded by 14.8% on the month.

Of the total money supply, cash in circulation (M0 aggregate) increased 45.6% in January-July to 9.77 trillion rubles. In July alone cash in circulation expanded by 2.9% on the month.

M1 aggregate, which includes cash and current Belarusian ruble deposits with banks, went up 42.2% in January-July 2012 to 28.931 trillion rubles as of August 1, 2012. M1 aggregate accounted for 20.6% of the total money supply as of August 1, 2012, up from 18.3% from January 1, 2012.

Ruble money supply (M2* aggregate), which includes M1 and fixed-period ruble securities outside bank circulation, was up 36.2% in January-July 2012 to 59.054 trillion rubles. Ruble money supply accounted for 42.1% of the broad money supply as of August 1, 2012, up from 39% as of January 1, 2012.

In 2011, broad money supply rose 120% to 111.245 trillion Belarusian rubles. Ruble money supply increased 64.1% in 2011 to Br43.355 trillion.