CBE: Domestic Credit Up To EGP 1.05 Trillion In May 2012

The domestic credit in Egypt rose by 18.1% during 11 months, registering EGP 1.05 trillion last May, up from EGP 892.7 billion, according to the Central Bank of Egypt’s latest report.

CBE said such increase came because net claims on government surged by 127.4 billion to register EGP 564.7 billion, claims on private sector rose by 13.1 billion to register EGP 336.3 billion, claims on the household sector increased by 12.4 billion to register 11.5 billion and claims on public sector was up by EGP 9.1 billion to register EGP 42.02 billion.

The domestic credit in local currency registered EGP 1.003 trillion (95.1%) and domestic credit in foreign currency reached EGP 51.4 billion (4.9%) in the same period.