Cairo – Mubasher: Egypt’s annual domestic liquidity jumped 39.7% year-on-year from 18% to EGP 3.05 trillion in September, the highest level since January 2017.
Net foreign assets grew for the fifth month in a row to its highest level in seven years, and net annual domestic assets’ growth settled at 24.7% at the end of September, according to the Ministry of Finance’s monthly bulletin.
The Central Bank of Egypt (CBE) had previously announced that Egypt’s domestic liquidity increased month-on-month by EGP 20.5 billion in June 2017.
On the annual basis, liquidity surged 39.4% to EGP 2.094 trillion at the end of June 2016.
The CBE aims at cutting liquidity to restrain inflation through raising interest rates.