Monthly, annual inflation rates down in august, total deposits higher
Egypt, Economics, 11/1/2000

Average monthly and annual inflation rates dropped in August compared to July and August last year, a monthly report by the Cabinet Information and Decision Support Centre (IDSC) said Sunday.

Monthly inflation rates dropped to 0.2 percent in August compared to 0.3 percent in July and 0.3 percent in August last year.

On Annual basis, average inflation rate dropped to 1.6 percent in August compared to 2.8 percent in July and 2.9 percent in August last year, the report said.

With reference to monetary indicators, the report said total deposits held with banks, rose in July to LE 260.8 billion compared to LE 259.5 billion in June and LE 235.9 billion in July last year.

Government deposits rose to LE 38.3 billion in July from LE 38.1 billion in June and LE 32.2 billion in July 1999.

Non-government deposits jumped in July to LE 222.5 billion from LE 221.4 billion in June and LE 203.7 in July last year, the IDSC monthly report said.

Money supply rose to LE 50.588 billion in July from LE 48.388 billion in July 1999.

Quasi-money rose to LE 206.995 billion in July from LE 187.617-in July last year.

The IDSC monthly report also said that banks credit facilities, except the Central Bank of Egypt (CBE), total lending and discount rose to LE 222.783 billion in July from LE 205.955 billion in the same month last year, the IDSC report said.

Government total lending, including the economic and service public authorities, rose to LE 12.305 billion in July this year from LE 11.833 billion in July 1999.

Non-government lending and discount soared to LE 210.478 billion in July from LE 194.122 billion in July last year, the IDSC monthly report said.

Trade Balance Deficit Drops: The deficit in the balance of trade has dropped by LE 7.371 billion to LE 18.374 billion in the period between January-July from LE 25.745 billion in the corresponding period last year, a healthy sign of a successful economic policy.

A monthly report by the Cabinet Information and Decision Support Centre (IDSC), said total exports, including re-exported goods and free zones exports, rose to LE 9.334 billion in the period between January and July from LE 6.709 billion in the same period last year.

Imports dropped in the same period to LE 27.708 billion from LE 32.454 billion last year, the report added.

It said total exports of national commodities without reexported goods, rose to LE 9310.3 million in the period between January to July from LE 6615.8 million in the same period last year.

The report said Suez Canal revenues dropped to $ 163.5 million in September this year from $169.1 million in August and $ 151.7 million in September last year.

The report said the number of vessels transmitting the international waterwa dropped to 1,197 vessels in September from 1,239 vessels in August compared to 1,113 in September last year.

Of these, 226 were oil tankers crossing the waterway in September, compared to 213 oil tankers in August and 176 million in September last year.

Of the total, 971 general cargo vessels transiting the canal in September, compared to 1,026 in August and 937 in September last year, the IDSC said in its monthly report.

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