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· The Central Bank of Egypt said that the net foreign assets increased by 103.1%, nearly EGP 125.9billion, during the period from July to October 2020 and touched EGP 247.998 billion
· This increase came as a result of an increase in the net foreign assets to the extent of EGP 43billion, and net foreign assets in banks estimated at EGP 82.9billion
· The agricultural sector obtained the lowest percentage of credit facilities and that worked out to 1.9% of the volume of all disbursements until the end of September 2020
The Central Bank of Egypt said that the net foreign assets increased by 103.1%, nearly EGP 125.9billion, during the period from July to October 2020 and touched EGP 247.998 billion. This increase came as a result of an increase in the net foreign assets to the extent of EGP 43billion, and net foreign assets in banks estimated at EGP 82.9billion.
The CBE said that the volume of credit facilities granted by banks operating in the local market targeting customers reached about EGP 2.411trillion by the end of October 2020. The volume of these facilities increased by EGP 210.7billion between Julys and October 2020, a growth of 9.6%. The credit facilities granted by banks to non-government entities increased by EGP 109.8 billion or 7.2% and the volume of facilities granted to the government increased by EGP 100.9 billion, at a rate of 15%.
According to the Central Bank’s data, the private business sector obtained about 59.2% of the total non-governmental credit facilities granted by banks to various economic sectors. The industrial sector topped the sectors financed by banks, as it alone received about 31.5% of the total facilities. This was followed by the services sector, which got 24.6%, and the trade sector with 10.9%.
The agricultural sector obtained the lowest percentage of credit facilities and that worked out to 1.9% of the volume of all disbursements until the end of September 2020.
