Bulgaria's broad money supply M3 grew 9.6% y/y to BGN 66.2bn ( EUR 33.8bn ) as of end-November 2013 after rising by 9.5% y/y at end-October, central bank data showed. In monthly terms, M3 was up 0.9%. Bulgaria's narrowest money supply aggregate M1, which includes currency in circulation and demand deposits, surged 20.6% y/y to BGN 27.2bn at end-November. Compared to the previous month, the most liquid money rose 2.6%. Quasi money (part of M2) grew 3.1% y/y to BGN 38.9bn but fell 0.3% on a monthly basis. The central bank also reported that domestic credit (loans to the government and the private sector) increased at an yearly rate of 2.3% to BGN 55.8bn at end-November, slowing from an annual growth of 3.6% the month before. The stock of outstanding corporate loans fell 0.4% y/y to BGN 35bn. The value of mortgage loans also dropped 0.4% on the year to BGN 8.78bn. Furthermore, consumer loans shrank 0.4% y/y to BGN 7.3bn. The share of bad and restructured loans in total loans decreased 0.5pps y/y to 18.2% in November 2013 .
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