2023-06-25 07:04:25
In the first quarter of the year, the NEA region recorded a decrease in the stock of loans to individuals, while that of private sector deposits showed a growth trend.
Bearing in mind that the banking financial system is an indicator of economic activity as a whole, a report by Consultora Ieral analyzes the most relevant categories of loans and deposits, both within the provinces of the NEA and at the national level, in real terms (that is, discounting inflation).
Finally, the speed of circulation of money is analyzed given its link with the greater or lesser demand of people for pesos.
When comparing the first quarter of the current year with respect to the same period of the previous year, it is observed that all the provinces of the NEA presented falls in the stock of Loans to Physical Persons; while, with regard to Loans to Others, it is observed that the only province that did not register an increase was Formosa.
In Deposits, when analyzing the aforementioned period, it is observed that the entire NEA region registered an increase in the stock corresponding to the private sector; while in the corresponding to the public sector, with the exception of Corrientes, all the other provinces registered decreases.
Within the national context, the only stock of loans that registered a variation below April’s inflation was that corresponding to credit cards, both in local currency and in foreign currency. Regarding the stock of Deposits, it can be observed that only those that are not on demand and are expressed in local currency managed to grow above the inflation of that month; the others failed to overcome it.
Finally, when analyzing what happens with the speed of money circulation from the first quarter of 2018 to the same quarter of 2023, the result is an acceleration in the speed with which money changes hands.
Thus, given that this concept is inversely related to the demand for money, when observing the trend of the latter, people’s rejection of the pesos is once again appreciated.
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