CBE: Domestic liquidity grows by 20%, recording EGP 8.88 tn by end of 2023

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 19.92%, to record EGP8.878 tn by the end of 2023, compared to EGP7.403 tn at the end of 2022, with an increase of EGP1.475 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 EGP2.370 tn by the end of December 2023, compared to EGP1.740 tn by the end of December 2022, with a growth rate of 36.25%, and an increase of EGP630.5bn.

Currency in circulation outside the banking sector rose to EGP1.069tn by the end of December 2023, up from EGP831.2 bn by the end of December 2022, with a growth rate of 28.60% and an increase of EGP237. 8bn.

Current deposits in the local currency reached EGP1.301 tn by the end of December 2023, compared to EGP908.4 bn by the end of December 2022, showing a growth rate of 43.24% and an increase of EGP392bn.

As for near-money, it increased from EGP5.663 tn by the end of December 2022 to EGP6.507 tn by the end of December 2023, with a growth rate of 14.91% and an increase of EGP789bn.

Non-current deposits in the local currency rose to EGP4.946 tn by the end of December 2023, compared to EGP4.503 tn by the end of December 2022, with a growth rate of 9.84% and an increase of EGP443 bn.

Current deposits in foreign currencies grew by 22.36%, with an increase of EGP69.3 bn, reaching the equivalent of EGP397.2bn by the end of December 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 EGP1.182 tn by the end of December 2023, compared to the equivalent of EGP850.2 bn by the end of December 2022, with a growth rate of 39.05% and an increase of EGP332 bn.