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Issued currency up EGP 17bn

Total currency issued by the Central Bank of Egypt (CBE) amounted to EGP 462.855bn by the end of August 2017, compared to about EGP 445.898bn in July 2017, an increase of about EGP 17bn. According to the CBE, the issued currency to gross domestic product (GDP) ratio was 11.36% in August, compared to 10.95% in …

Daily News Egypt

Deposits portfolio reached EGP 3.124tn

The size of the banks’ deposits portfolio reached EGP 3.124tn at the end of August 2017, up from EGP 3.071tn at the end of July, an increase of EGP 53bn, according to the Central Bank of Egypt (CBE). The CBE noted that government deposits rose to a record EGP 529.4bn by the end of August, …

Daily News Egypt

80% rise in net foreign assets

The net foreign assets of the Egyptian banking sector as a whole, including the Central Bank of Egypt (CBE), scored about EGP 174.878bn at the end of August, compared to EGP 139.658bn at end of July, according to CBE figures. The CBE noted that net foreign assets in banks reached EGP 80.279bn at the end …

Daily News Egypt

How Egyptians coped with soaring prices???

Egypt, a country with a population of 90m, where more than 28% of them live below the poverty line, has been struggling with economic challenges and political turmoil since the 25 January Revolution in 2011. In November 2016, the government started to implement the economic reform programme backed by the International Monetary Fund (IMF), which …

Mohamed Samir

CBE’s automobile committee resumes work soon

Hussein Mostafa, the executive director of the Egyptian Automobile Manufacturers Association (EAMA) and the chairperson of the automobile committee of the Central Bank of Egypt (CBE), said the committee has stopped over the past period in order to study the developments of the automobile market. This includes the increase in the price of automobiles, which …

Daily News Egypt