Egypt’s domestic liquidity increases by 16.93% in 8M

Egypt’s domestic liquidity increased by EGP 985.7 billion to hit EGP 6.808 trillion by the end of August, compared to EGP 5.823 trillion by the end of December 2021 recording growth rate of 16.93%, according to monthly bulletin of the Central Bank of Egypt CBE). 

Domestic liquidity grew by 1.49% on a monthly basis, from EGP 6.709 trillion at the end of July 2022, to EGP 6.808 trillion at the end of August 2022, an increase of EGP 99.8 billion.

The money supply (M1) has seen an increase of 16.70% recording EGP 1.613 trillion at the end of August 2022, compared to EGP 1.382 trillion at the end of December 2021, an increase of EGP 230.9 billion pounds.

However, the money supply achieved a growth rate of 2.40% on a monthly basis, and an increase of EGP37.8 billion pounds, from EGP1.575 trillion at the end of July 2022, to EGP 1.613 trillion at the end of August 2022.

Cash outside banks has witnessed a growth rate of 13.73% to record EGP 798.3 billion at the end of August 2022, compared to EGP 701.9 billion at the end of December 2021 with an increase of EGP 96.4 billion.

Moreover, current deposits in local currency grew by 19.77% to record 815 billion pounds at the end of August 2022, compared to 774.4 billion pounds at the end of December 2021.

Current deposits in local currency grew by 5.23 % on a monthly basis, to record 815 billion pounds at the end of August 2022, compared to 774.4 billion pounds at the end of July 2022.

Furthermore, quasi-money rose at a growth rate of 17% during the first 8 months of this year, to record 5.195 trillion pounds at the end of August 2022, compared to 4.440 trillion pounds at the end of December 2021, to achieve an increase of 754.8 billion pounds.

In addition, The surge in quasi-money came as a result of the non-current deposits in local currency increased by 13.82% to record 4.313 trillion pounds at the end of August 2022, compared to 3.789 trillion pounds at the end of December 2021.