CBE: Domestic liquidity rises to EGP8.2 tn by June- 2023 end

The latest monthly statistical bulletin issued by the Egyptian Central Bank, posted recently on the bank's official website, shows a local liquidity increase of 11.42%, reaching EGP8.248 tn by the end of the first half of 2023, compared to EGP7.402 tn by the end of 2022, with an increase of EGP845.450 bn.

Domestic liquidity comprises cash supply and near money, with cash supply including currency circulating outside the banking system and current deposits in the local currency. Near money includes non-current deposits in both local and foreign currencies and current deposits in foreign currency.

Regarding the cash supply, it increased to EGP2.061 tn by the end of June 2023, compared to EGP1.74 tn by the end of 2022, with a growth rate of 18.47%, and an increase of EGP321.322 bn.

Currency in circulation outside the banking sector jumped to EGP1.009 tn by the end of the first half of the current year, compared to EGP831.226 bn by the end of 2022, with a growth rate of 21.41%, and an increase of EGP177.940 bn.

Current deposits in the local currency rose to EGP1.051 tn by the end of the second quarter of 2023, compared to EGP908.396 bn by the end of 2022, with a growth rate of 15.78%, and an increase of EGP143.382 bn.

As for near money, it increased from EGP5.663 tn by the end of 2022 to EGP 6.187 tn by the end of June 2023, with a growth rate of 9.26%, and an increase of EGP524.127 bn.

Non-current deposits in the local currency rose to EGP 4.671 tn by the end of the first half of 2023, compared to EGP4.503 tn by the end of 2022, with a growth rate of 3.73%, and an increase of EGP168.054 bn.

Foreign currency current deposits increased by about 24.64%, reaching the equivalent of EGP386.227 bn by the end of June 2023, compared to the equivalent of EGP309.862 bn by the end of 2022, with an increase of EGP76.365 bn.

Non-current deposits in foreign currencies rose to the equivalent of EGP1.129 tn by the end of June 2023, compared to the equivalent of EGP850.217 bn by the end of 2022, with a growth rate of 32.90%, and an increase of EGP279.708 bn.