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Egypt's governmental loans fall 0.6 pct year-on-year in January

Despite an overall rise in loans the government's borrowing saw a slight annual drop, according to central bank data

Ahram Online, Friday 20 Apr 2012
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Egypt’s total loans rose an annual 5.4 per cent to reach LE489.2 billion ($81.5 billion) in January 2012, according to the latest bulletin from the country's central bank. 

By comparison, Egypt's total loans came to LE462.6 billion ($77.1 billion) in January 2011.
 
Despite an annual rise in the domestic borrowing rate, the governmental ratio declined 0.6 percent in January to record LE36.8 billion, against LE38.7 billion in 2011.
 
Private sector and household loans both surged, by 6.3 and 10.7 per cent respectively, to reach LE452.3 billion and LE104.1 billion, the bulletin shows.
 
State banks' total deposits also rose 4.8 per cent to reach LE992.3 billion.
 
There was a marked decline in deposits by the private sector, while fell 21.7 percent to LE96 billion in January. 
 
But both government and household deposits rose over the same period, the former to LE121.3 billion from LE116.9 billion, the latter to LE561 billion from LE513.6 billion.
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