Cairo – Mubasher: Egypt’s domestic liquidity surged 40.6% year-on-year in October 2017, according to the Central Bank of Egypt’s (CBE) initial data.
Domestic liquidity recorded EGP 3.08 trillion at the end of October from EGP 2.19 trillion in the prior-year period, the CBE highlighted.
On a monthly basis, domestic liquidity rose marginally in October, compared to EGP 3.05 trillion in September 2017.
Meanwhile, money supply stood at EGP 724.7 billion at the end of October, compared to EGP 738.4 billion in September.
The CBE aims at cutting domestic liquidity to control inflation through raising interest rates.
The Ministry of Finance had previously announced that Egypt’s annual domestic liquidity jumped 39.7% year-on-year to EGP 3.05 trillion in September, the highest level since January 2017.
