Egypt’s domestic liquidity continued to rise during April 2021, by 1%, equivalent to EGP 53 billion on a monthly basis, to complete its historical levels witnessed during the last period.
According to data from the Central Bank of Egypt (CBE), the local liquidity increased last April to EGP 5.184 trillion, the highest level ever, compared to EGP 5.131 trillion in March.
On an annual basis, domestic liquidity increased by 19.17% compared to EGP 4.35 trillion, year-on-year.
According to the data, the money supply rose during April to EGP 1.19 trillion compared to EGP 1.18 trillion in March.
Domestic liquidity is the total money supply, or what is known as the quantity of current means of payment and quasi-money. The money supply includes deposits in local currency and cash circulating outside the banking system.
According to CBE data, the balance of foreign exchange reserves last April amounted to $40.343 billion, compared to $40.337 billion, month-on-month.
Earlier, Ramy Abul-Naga, CBE's Deputy Governor said that Egypt is expected to obtain the last tranche from the IMF, amounting to $1.6 billion next June, indicating that it is continuation to the economic reform measures that carried out by the Egyptian state since 2016.
Abul-Naga added that it is unlikely that Egypt will conclude another financing agreement with the International Monetary Fund during the coming period.
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