CBE: Domestic liquidity grows by 14.4%, recording EGP8.5 tn by August 2023end

The latest monthly statistical bulletin of the Central Bank of Egypt, issued a little while ago on the official website of the bank, revealed an increase in local liquidity by a growth rate of 14.4%, to record EGP8.467 tn by the end of August 2023, compared to EGP7.403 tn at the end of 2022, with an increase of EGP1.065 tn.

Domestic liquidity consists of cash and near-money supply, categorized under cash supply; circulating cash outside the banking system and current deposits in the local currency.

Meanwhile, near-money includes non-current deposits in both local and foreign currencies.Examining the cash supply category, it increased to EGP2.148 tn by the end of August 2023, compared to EGP1.740 tn by the end of December 2022, with a growth rate of 23.5%, and an increase of EGP408.2 bn.

Currency in circulation outside the banking sector rose to EGP997.6 bn by the end of August 2023, up from EGP831.2 bn by the end of December 2022, with a growth rate of 20% and an increase of EGP166.4 bn.Current deposits in the local currency reached EGP1.150 tn by the end of August 2023, compared to EGP908.4 bn by the end of December 2022, showing a growth rate of 26.6% and an increase of EGP241.8 bn.

As for near-money, it increased from EGP5.663 tn by the end of December 2022 to EGP6.320 tn by the end of August 2023, with a growth rate of 11.6% and an increase of EGP656.6 bn.Non-current deposits in the local currency rose to EGP4.751 tn by the end of August 2023, compared to EGP4.503 tn by the end of December 2022, with a growth rate of 5.5% and an increase of EGP247.5 bn.

Current deposits in foreign currencies grew by 29.6%, with an increase of EGP91.8 bn, reaching the equivalent of EGP401.7 bn by the end of August 2023, compared to the equivalent of EGP309.9 bn by the end of December 2022.Non-current deposits in foreign currencies rose to the equivalent of EGP1.167 tn  by the end of August 2023, compared to the equivalent of EGP850.2 bn by the end of December 2022, with a growth rate of 37.31% and an increase of EGP317.3 bn.