In nominal terms, the cash in circulation rose by RON4.4 billion in January-July, while, versus the end of 2008, it increased by RON26 billion.
The weight of the cash in the GDP rose from 4.5% in 2008 to over 10% in 2016. Thus, the economy is more dependent on cash than it was eight years ago, although card transactions also registered an increase during this period.
The increase of cash in circulation was mainly supported by higher consumption, poor financial education, the low incomes of Romanians and the inexistence of alternative payment solutions in the public sector.
At the same time, the increase of cash in circulation is fueling the underground economy, estimated at 16% of the GDP, or RON95 billion (EUR21 billion).