Daily News Egypt

CBE: Liquidity rises to EGP 1.12 trillion - Daily News Egypt

Advertising Area



Advertising Area



CBE: Liquidity rises to EGP 1.12 trillion

Domestic liquidity rose by EGP 29.9 billion at the end September 2012


The rise in the amount of available liquidity came as a result of the rise of money traded outside the Egyptian banking sector, according to CBE’s report.

The Central Bank of Egypt’s latest report indicated that the amount of liquidity in the Egyptian local market has reached EGP 1.12 trillion, rising by EGP 29.9 billion at a rate of 2.7 per cent during the July-September 2012 period.

The report (a copy of which was obtained by the Middle East News Agency,) stated that a rise in local liquidity reflected a rise in the amount of available liquidity in the Egyptian economy by EGP 8.3 billion at a rate of 3 per cent, and quasi-money by EGP 21.6 at a rate of 2.6 per cent.

The report stated that a rise in the amount of available liquidity came as a result of the rise of money traded outside the Egyptian banking sector by EGP 4 billion at a rate of 2.1 per cent, and a rise in current deposits made in local currency by EGP 4.3 billion at a rate of 3.1 per cent.

As for the increase in quasi money, this came as a result of a rise in non-current deposits made in local currency in the amount of EGP 19.5 billion, at a rate of 3.1 per cent, and deposits made in foreign currency by EGP 2.1 billion at a rate of 1.1 per cent.

The recent increase in local liquidity came as a result of the growth of local Egyptian net assets by EGP 37.6 billion at a rate of 4 per cent, throughout the July-September 2012 period. This increase in net domestic assets came on the one hand as a result of an increase in net domestic credit by EGP 59.8 billion at a rate of 5.6 per cent, and on the other hand from an increase in the negative balance of net budget items to EGP 22.2 billion at a rate of 16.4 per cent.

The report noted that the increase in local credit came as a result of the increase in the government’s net liabilities by EGP 55.4 billion, that of the household sector to EGP 3.1 billion, and that of the public business sector to EGP 1.3 billion. Increases in private sector liabilities on the other hand were minor.

Advertising Area


https://wwww.dailynewssegypt.com/2012/12/10/cbe-liquidity-rises-to-egp-1-12-trillion/
Breaking News

No current breaking news

Receive our daily newsletter
Subscribe