Private sector credit increases in Macau

5 August 2016

Monthly credit granted to Macau’s private sector was up 1.4 percent in June to 403 billion patacas (US$50 billion), reports the Macau Monetary Authority.

The bulletin with June 2016 monetary and financial statistics also indicates that most of that amount was denominated in patacas and Hong Kong dollars: 116.7 billion in patacas and the equivalent of 262.4 billion patacas in Hong Kong dollars.

The Monetary Authority added that credit granted abroad was up 0.9 percent, likewise in monthly terms, to 371 billion patacas (US$46.3 billion).

During the month under analysis, currency circulation rose by 1.7 percent and demand deposits by 2.8 percent. The M2 aggregate, which adds quasi-monetary liabilities to circulating currency and demand deposits, was up 0.8 percent to 478.8 billion patacas (US$59.85 billion).

Finally, residents’ deposits increased 0.8 percent to 466 billion patacas and non-residents’ deposits were up 6.7 percent to 292.7 billion patacas.

Total deposits from banking activity posted an increase of 2.7 percent to 913.3 billion patacas compared to the previous month, the Macau Monetary Authority also reported. (Macauhub/MO)