Accounts of Credit Facilities Increased by 4.8%

The latest Central Bank of Egypt (CBE) statistical report issued Wednesday 7/12/2011 said that accounts of credit facilities granted by banks increased by 4.8% during July/September in fiscal year 2011/12. The report added that domestic liquidity had risen to LE1024.3 billion at the end of September with an increase of LE15 billion or 1.5 per cent.

The report said the increase in domestic liquidity had increased money supply by LE5.1 billion or 2 percent and an increase in quasi-money by LE9.9 billion or 1.3 percent. The rise in money supply resulted from the increase in the currency in circulation outside the banking system by LE6.2 billion or 3.7 percent and the drop in demand deposits in the local currency by LE1.1 billion or 1.4 percent.