Egypt's domestic liquidity rises to EGP 4.11 trillion by end of December: CBE
MENA, , Tuesday 25 Feb 2020
The rise represents a 6.4% rise during July-December in FY 2019/2020

The Central Bank of Egypt (CBE) has announced that Egypt's domestic liquidity rose by EGP 246.9 billion to register EGP 4.11 trillion, with an increase of 6.4% in July-December of the 2019/2020 fiscal year.

In its report released Tuesday, the CBE stated that the increase in domestic liquidity was reflected in the growth of quasi-money that went up by EGP 202 billion at a rate of 6.9% and the rise in money supply by EGP 44.9 billion at a rate of 4.9%.

The surge in quasi-money came as a result of the rise in non-current deposits in local currency by EGP 261.5 billion at an average of 11.8%, and the decrease of deposits in foreign currency by EGP 59.5 billion at a rate of 8.3%, the report added.

The report attributed the increase in money supply to the rise in current deposits in local currency by EGP 25 billion, at an average of 5.7%.