M3 Aggregate Rises As Expected

Ljubljana, 26 January - The Council of the Bank of Slovenia stated that they had reached their goal of a 16 to 24 percent increase in the M3 aggregate in 1999, at Tuesday's conference. Actual movements indicate that the monetary aggregate, the M3, increased by 16 percent in 1999 and thus stands on the lower border of the goal. The increase of the M3 by SIT 224 billion (euro 1.13 billion) is the result of a SIT 285 billion (euro 1.439 billion) increase in loans given to the local non-banking sector and a greater net claim to foreign loans by SIT 1 billion (euro 5 million) which outsize the SIT 62 billion (euro 313 million) increase in the liabilities of the banking sector which do not fall under the M3 aggregate.