The Central Bank of Egypt (CBE) revealed that the volume of domestic liquidity in the Egyptian banking sector increased to EGP 8.14trn in May 2023, compared to EGP 7.402trn in December 2022, an increase of EGP 737.795bn.
In a recent report, the CBE indicated that the money supply increased to EGP 1.975trn in May, compared to EGP 1.739trn in December. The cash circulating outside the banking system amounted to EGP 959.948bn, compared to EGP 831.2bn.
The CBE also revealed that the total deposits in local currency in banks other than the government increased to EGP 5.666trn in May 2023, compared to about EGP 5.411trn in December 2022, an increase of EGP 255.234bn.
It explained that demand deposits recorded EGP 1.015trn, compared to EGP 908.3bn, of which EGP 53.461bn belong to the public business sector, EGP 653.065bn to the private sector, and EGP 309.183bn to the household sector.
This comes as the value of term deposits and savings certificates amount to EGP 4.651trn, compared to EGP 4.503trn, of which EGP 75.740bn were for the public business sector, EGP 322.9bn for the private sector, and EGP 4.234trn for the household sector.
In the same context, the CBE revealed that the volume of non-governmental deposits in foreign currencies with banks reached about EGP 1.513trn in May 2023, compared to EGP 1.160trn in December 2022, with an increase in value equivalent to EGP 353.8bn.
The CBE said that demand deposits in foreign currencies amounted to EGP 397.8bn, while the volume of time deposits and savings certificates amounted to EGP 1.116trn.
The public business sector acquired about EGP 23.518bn of demand deposits in foreign currencies, the private business sector about EGP 263.476bn, and the household sector about EGP 110.987bn.
The share of the public business sector in time deposits and certificates of savings in foreign currencies amounted to EGP 74.209bn, the private business sector EGP 247.427bn, and the household sector EGP 794.388bn.