Egypt prints the largest amount of money for the first time since 2011

Data from the Central Bank of Egypt (CBE) shows an increase of £ 18.4 billion in the value of liquidities issued by "printed banks", the largest monthly increase in seven years and half.

According to the monthly report of the central bank for October, the liquidities issued reached 498.2 billion pounds at the end of August, against 479.8 billion pounds at the end of July.

The increase in liquidities issued in August is the highest since February 2011, recording an increase of 21.8 billion Egyptian pounds, bringing the value of the currency exported to 11.23% of GDP at the end of the year. month of August, against 10.81% at the end of July.

Original liquidity decreased by 6.9 billion pounds sterling in July compared to the end of June, to 486.7 billion pounds sterling.

The central bank is committed to printing money according to several economic criteria, the most important of which is the real growth rate of GDP and the inflation rate to determine the size of the monetary question, as measured by needs of current economic activity so as not to prevent price stability and preserve the value of the national currency. Decline, according to a previous statement from the bank.

Source: Masrawy