CAIRO - 15 July 2020: The Central Bank of Egypt (CBE) on Tuesday said that the credit facility balances for clients in banks rose by around LE 258.1 billion to hit LE 2.112 trillion, with an increase of 13.9 percent in July-April of the 2019/2020 fiscal year. In its recent monthly report, the CBE said the credit facilities issued to the government reached LE 101 billion at a rate of 16.8 percent. The non-governmental credit facilities increased to LE 157.1 billion at an average of 12 percent, the CBE added. The CEB attributed the surge in non-governmental credit facilities to the rise in balances in local currency by LE 170.2 billion and the decline in balances in foreign currency by LE 13.1 billion.

Source: Egypt Today July 15, 2020 10:30 UTC