The Central Bank of Egypt (CBE) disclosed that the local liquidity increased to LE 3.863 trillion at the end of June, registering an increase of LE 409.3 billion by 11.8% during the fiscal year 2018-2019 due to the increase in net domestic assets of the banking system by LE 425.5 billion, or 13.5% during the fiscal year 2018-2019, as a result of the increase in domestic credit by about 365.4 billion pounds, an average of 10.6 percent.
The rise in domestic credit was due to an increase in net liabilities from the government by LE 228.5 billion, liabilities from the family sector by LE 66.3 billion, from the public business sector by LE 1.8 billion and from the private business sector by about LE 68.8 billion.
The increase in domestic liquidity was reflected in the growth of quasi money by LE 306.3 billion at a rate of 11.6 percent, and the money supply by LE 103 billion at a rate of 12.6 percent. The increase in the quasi money is due to the increase in non-current deposits in the local currency by 308.6 billion pounds at a rate of 16.1 percent.
Source (7youm Website, Edited)
