Money supply and growth rate of credit to economy decline in March
27 April 2026
News
Broad money (M2X) decreased by 1.0% due to a reduction in organisations’ deposits, which was associated with the tax payments postponed from February to March.
Annual growth of М2Х decelerated from 12.4% in February to 12.2% in March, while that of lending to the economy slowed down from 9.6% to 8.9%, respectively.
Credit to the economy remains the major driver of money supply. That said, the fiscal sector’s contribution to the annual increase in money supply was up in March.
More details are available in the material Monetary Aggregates and Credit to the Economy.
Preview photo: Sergey Savostyanov / TASS