Table ( 20 ) : Monetary Survey (continued)
(Memorandum Items)
 
  ابريل-00 مايو-00 يونيو-00 يوليو-00 اغسطس-00 Sep-00 Oct-00 Nov-00 Dec-00 Jan-01 Feb-01 Mar-01 Apr-01 May-01 Jun-01 Jul-01 Aug-01 Sep-01 Oct-01 Nov-01 Dec-01 Jan-02 Feb-02 Mar-02 Apr-02 May-02 Jun-02 Jul-02 Aug-02 Sep-02 Oct-02 Nov-02 Dec-02 Jan-03 Feb-03 Mar-03 Apr-03 May-03 Jun-03 Jul-03 Aug-03 Sep-03 Oct-03 Nov-03 Dec-03 Jan-04 Feb-04 Mar-04 Apr-04 May-04 Jun-04 Jul-04 Aug-04 Sep-04 Oct-04 Nov-04 Dec-04 Jan-05 Feb-05 Mar-05 Apr-05 May-05 Jun-05 Jul-05 Aug-05 Sep-05
Net Foreign Assets (In Million US$)      6,821      6,616      6,788      6,976      7,026          6,872      7,039      6,542      5,978      5,544      5,308      5,321      5,413      4,890      4,888      6,179      5,584        5,389      4,934      4,891      4,685      4,445      4,346      4,237      3,929      3,638      3,729      3,591      3,999        4,355      4,204      4,257      3,831      3,731      3,828      3,416      3,578      3,709      4,215      4,782      5,263        5,195      5,101      5,551      5,219      5,286      5,695      5,917      6,270      6,728      7,294      7,729      8,438        8,508      8,688      8,841      9,004     10,454     11,403     12,718     12,989     13,071     13,983       16,432     16,927     18,049
 Central bank NFA       4,038      4,076      3,954      3,843      3,954          3,862      3,367      3,335      2,932      2,860      2,909      3,095      3,222      3,269      3,353      4,576      3,832        3,583      3,123      3,391      2,981      2,734      2,589      2,625      2,361      2,038      2,118      2,000      2,081        2,274      2,269      2,269      2,034      1,640      1,750      1,737      1,897      1,662      2,046      2,080      2,091        1,833      1,527      1,297      1,136         853         959      1,074      1,339      1,209      1,589      1,509      1,701        1,627      1,365      1,158      1,434      3,110      3,836      4,750      5,148      5,671      6,445        7,716       8,074       8,520
 Net International Reserves       17,487     17,322     17,653     17,483     17,449        17,208     17,489     17,147     17,039     16,478     16,098     15,867     15,986     15,357     15,357     16,487     15,982      15,835     15,341     15,200     14,974     14,714     14,588     14,557     14,523     14,487     14,964     14,643     15,054      15,354     15,268     15,379     15,352     15,644     15,646     15,196     15,497     16,151     16,474     16,770     17,137      17,471     17,560     18,184     18,268     18,169     18,417     18,592     18,727     19,410     19,944     20,055     20,787      21,034     21,587     22,136     22,455     23,303     24,447     25,563     25,860     25,682     26,330       28,482     29,085     30,136
 Central Bank       15,004     15,068     15,130     14,642     14,670        14,535     14,159     14,329     14,382     14,165     14,161     14,122     14,274     14,204     14,244     15,380     15,050      14,839     14,338     14,519     14,083     13,807     13,644     13,773     13,790     13,725     14,147     13,837     13,921      14,052     14,117     14,180     14,351     14,079     14,203     14,144     14,466     14,764     14,809     14,565     14,461      14,682     14,529     14,453     14,721     14,293     14,237     14,329     14,305     14,419     14,781     14,351     14,602      14,675     14,785     14,975     15,425     16,558     17,319     18,041     18,470     18,712     19,302       20,251     20,705     21,100
 Banks (net)       2,783      2,540      2,835      3,134      3,072          3,010      3,672      3,207      3,046      2,684      2,399      2,226      2,192      1,621      1,536      1,603      1,752        1,805      1,811      1,500      1,704      1,711      1,757      1,612      1,568      1,599      1,611      1,591      1,918        2,082      1,936      1,987      1,796      2,091      2,078      1,678      1,681      2,047      2,169      2,702      3,172        3,362      3,574      4,254      4,083      4,433      4,737      4,843      4,931      5,519      5,705      6,219      6,737        6,881      7,323      7,683      7,569      7,344      7,567      7,968      7,841      7,400      7,538        8,717       8,854       9,530
Foreign assets      7,539      7,312      7,530      7,603      7,293          7,364      8,042      7,491      7,508      7,128      7,060      6,877      6,880      6,580      6,455      6,464      6,589        6,630      6,540      6,406      6,018      6,023      6,011      5,872      5,885      5,860      6,090      5,983      6,287        6,445      6,049      6,280      6,105      6,347      6,352      6,077      6,100      6,428      6,595      6,881      7,190        7,282      7,382      8,131      7,800      8,032      8,311      8,478      8,489      8,973      9,188      9,574      9,892      10,088     10,490     10,880     10,936     10,687     10,848     11,330     11,168     10,945     11,335       12,117     12,158     12,883
Foreign Liabilities      4,755      4,772      4,695      4,469      4,221          4,354      4,369      4,284      4,462      4,444      4,661      4,651      4,689      4,959      4,919      4,861      4,837        4,824      4,729      4,906      4,313      4,312      4,254      4,260      4,317      4,261      4,479      4,393      4,369        4,363      4,113      4,293      4,308      4,256      4,274      4,399      4,419      4,381      4,425      4,179      4,019        3,920      3,807      3,877      3,717      3,599      3,574      3,636      3,558      3,455      3,483      3,355      3,155        3,207      3,167      3,198      3,367      3,343      3,281      3,361      3,328      3,546      3,797        3,401       3,305       3,353
In Percent of Beginning of Money Stocks 4/            
Net Foreign Assets  -2.7% -3.0% -2.7% 0.2 0.4 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 1.6 1.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.2 0.4 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.8 1.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.6 1.7 1.8 0.0 0.0 0.0 0.0 0.0 0.1 0.1 7.0 8.2 2.8 3.4 4.7
Net Domestic Assets  8.4% 9.6% 11.5% 0.7 1.6 2.5 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 -0.9 1.3 3.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.5 1.3 2.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.7 1.3 2.7 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.9 1.1 1.9 0.0 0.0 0.1 0.0 0.0 0.0 0.0 5.7 5.4 -0.4 0.4 -0.4
Money (M1) -0.3% -0.5% 0.4% 0.3 0.1 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.2 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.4 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.8 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 0.6 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.5 2.8 0.8 1.6 2.1
Quasi Money 6.0% 7.1% 8.4% 0.6 1.8 2.4 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.5 2.8 3.9 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 1.3 2.3 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 1.3 2.4 3.3 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.7 2.2 3.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 10.2 10.8 1.7 2.2 2.2
Dollarization (% of Total Liquidity) 5/  18.4 18.5 18.8 18.9 19.0 19.1 20.1 20.5 20.3 20.7 21.0 21.3 21.3 21.1 21.3 21.4 22.6 22.7 22.1 21.8 23.2 23.4 23.4 23.5 23.4 23.3 23.2 23.1 23.3 23.5 23.4 23.3 23.2 26.1 26.7 26.7 27.2 27.3 27.3 28.0 28.0 28.0 27.9 28.0 28.0 28.0 28.3 28.4 28.3 28.5 28.4 28.4 28.6 28.5 28.6 28.4 28.0 26.1 25.8 25.8 25.7 25.0 24.5 25.0 24.6 24.2
M2 Multiplier 6/ 3.87 3.87 3.89 3.81 3.85 3.86 3.91 3.91 3.81 3.87 3.89 4.00 4.05 4.08 4.07 3.97 4.03 4.08 4.15 4.17 4.36 4.42 4.38 4.36 4.39 4.43 4.46 4.31 4.41 4.39 4.31 4.25 4.26 4.34 4.62 4.48 4.45 4.43 4.31 4.10 3.95 3.90 3.81 3.70 3.81 3.77 3.76 3.69 3.69 3.85 3.67 3.62 3.64 3.54 3.41 3.47 3.48 3.19 3.06 2.97 2.89 2.88 2.78 3.50 3.48 3.40
M2 Velocity 7/ 1.37 1.36 1.33 1.39 1.38 1.37 1.35 1.34 1.32 1.32 1.31 1.31 1.30 1.28 1.26 1.32 1.29 1.27 1.27 1.27 1.23 1.23 1.21 1.21 1.20 1.18 1.15 1.27 1.25 1.23 1.23 1.22 1.22 1.16 1.15 1.14 1.13 1.11 1.09 1.24 1.22 1.21 1.20 1.19 1.18 1.16 1.16 1.15 1.15 1.12 1.12 1.26 1.20 1.19 1.22 1.20 1.19 1.19 1.18 1.16 1.15 1.09 1.09 1.24 1.23 1.22
M2 (annual percentage change) 8.8% 8.6% 8.8% 9.1 9.5 9.7 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 11.6 12.8 13.4 12.0 11.6 13.3 13.8 14.0 14.5 14.7 14.9 15.4 14.7 13.9 13.8 13.8 13.9 11.6 16.0 16.4 16.8 17.0 17.3 16.9 18.5 18.6 18.6 19.0 19.7 19.9 16.1 15.3 14.6 14.3 14.5 13.2 13.0 12.8 12.4 0.1 0.1 0.1 0.1 0.1 0.1 0.1 13.4 13.6 14.6 14.7 14.2
Credit to private sector (annual percentage change) 8/ 15.7% 14.5% 13.5%  -- 11.9 11.7   0.1 0.1 0.1 0.1 0.1 0.1 0.1 10.2 10.6 10.8 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 10.7 9.7 8.8 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 7.1 6.9 7.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 3.5 3.8 3.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.5 3.6 4.4 5.0 5.7
Exchange Rate 9/ 3.415 3.421 3.446 3.461 3.480 3.511 3.541 3.700 3.700 3.835 3.861 3.868 3.867 3.874 3.878 3.932 4.262 4.262 4.267 4.270 4.612 4.623 4.627 4.631 4.632 4.632 4.635 4.635 4.634 4.632 4.633 4.634 4.635 5.364 5.535 5.735 5.895 5.977 6.032 6.127 6.143 6.149 6.144 6.134 6.159 6.167 6.172 6.189 6.183 6.191 6.202 6.198 6.227 6.232 6.234 6.222 6.145 5.877 5.794 5.790 5.787 5.787 5.786 5.769 5.762 5.757
Source: Central Bank of Egypt.
 -- Data not available.
4/ Shows the annual percent change of selected aggregates in percent of total liquidity at beginning of fiscal year. This indicator is intended to show sources of money growth during the fiscal year in study.
5/ Denotes the ratio of foreign currency demand deposits and time and savings deposits to total liquidity. It excludes non-residents deposits which are counted in the net foreign assets line as well as government deposits.
6/ M2 / Reserve Money.
7/ GDP / M2. 
8/ Includes claims on private business sector and household sector.
9/ Starting  January 2003 rates are based on  buy rates only, while prior to that date rates were based on the average buy / sell rates.
   
   
   
   
   
   
   
   
   
   
Source: Central Bank of Egypt.
1/ Foreign currency demand, and time and savings deposits.
* Ministry of Planning revised 2004/2005 GDP figures downward by LE 22 billion to LE 536 billion , while 2005/2006 revised GDP estimates are not published yet. Accordingly, developments in 2005/2006 indicators in relation to GDP should be considered as "under revision".