Saturday, May 25, 2019
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Central Bank: 288 billion pounds The volume of banknotes issued from the "200 pounds"

The volume of issued banknotes rose from LE 200 to LE 288 billion by the end of November 2018 compared to LE287 billion at the end of October 2018, an increase of LE1 billion over the course of a month, according to the latest reports issued by the Central Bank of Egypt.

A senior banking official at the Central Bank of Egypt said in a special statement to "the seventh day" that the economic equation governing the printing of banknotes, and thus the local currencies, from the printing house of the central bank, Inflation rate – high levels of prices of goods and services – the annual, in addition to the rate of growth of the gross domestic product of the Egyptian economy, as well as monthly rate to replace and renew the damage of the local currency in all categories of cash paper, stressing that the printing presses of the Central Bank does not accept the printing of cash exported to other countries, Technical and security And political.

The banking sector is one of the most important pillars of the Egyptian economy at present, with liquidity rates and a good capital base, which contributed to overcoming this sector for many domestic and international crises. This is the future bet for financing projects during the coming period, as the ratio of loans to deposits in this sector reaches 45% Confirms that liquidity is sufficient to finance all sizes and types of projects in order to contribute to the growth of Egypt's GDP, which the government aims to reach 7% in years.



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