money supply

Serbia’s Money Supply and Bank Lending Expand as Foreign-Currency Exposure Remains High

Serbia's monetary aggregates, bank deposits and lending all recorded solid annual growth at the end of May 2026, with credit expanding considerably faster than the deposit base. The broadest monetary aggregate, M3, reached RSD 5,601.4 billion, representing an increase of approximately 9.8% year on year. M1 stood at RSD 2,090.7 billion, up around 8.7%, while M2 reached RSD 2,817.7 billion, an increase of approximately 10%. All three monetary aggregates also increased compared with April, pointing to continued month-on-month nominal expansion.…