Cairo – Mubasher: The Central Bank of Egypt (CBE) stated that Egypt’s total loans rose 51% year-on-year in May 2017.
Total loans reached EGP 1.39 trillion in May 2017 from EGP 920.69 billion in the prior-year month, according to the CBE.
Government loans amounted to EGP 335.8 billion in May 2017 from EGP 172.04 billion in May 2016.
Meanwhile, non-governmental loans stood at EGP 1.06 trillion in May 2017 from EGP 748.6 billion in the same month last year.
Credit facilities totalled EGP 108.6 billion in May 2017, compared to EGP 233.4 billion in May 2016.
Egypt is implementing an economic reform programme in coordination with the International Monetary Fund (IMF), in order to obtain a $12 million loan, as the government got the first tranche of $2.75 billion in November 2016.
