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Crediting activity in Macedonia declines in Q2

Xinhua, August 17, 2016 Adjust font size:

Macedonia marked a slight decline in terms of the new credit flows, the National Bank of Macedonia reported on Wednesday.

Preliminary data for July confirmed a decline in loans to the corporate sector while on the other hand, a further increase in household lending. According to the country's National Bank, this adjustment in lending was followed by the solid growth in total loans to the private sector in June.

Results of the latest lending survey of central bank for the second quarter 2016 showed a further easing of overall credit terms in both sectors, amid moderate net reduction in demand for corporate and housing loans.

"Lending activity so far is in line with the forecast, but given the weaker performances in the deposit potential and present uncertainty, there are risks to the dynamics of lending activity in the next period," the report said.

The Macedonian National Bank is expecting a continuation of economic growth in second quarter, but at a slower pace compared to the first quarter. Endit