Show Me the Money
The fiscal deficit has crept up while foreign currencies have decreased
By Robert Terpstra
23 January 2012, 12:52 pm
 

Market tendencies
GDP market prices have steadily increased over the past two years — in FY2008/09, the figure was LE 1.04 billion; a year later it jumped 16.2% to LE 1.21 billion. For FY2010/11, data from July 2010 to September 2011 was measured at LE 1.38 billion.

In FY2008/09, the fiscal deficit was LE 22.81 billion. It rose 53% or LE 12.15 billion to LE 34.96 billion a year later. In FY2010/11, the fiscal deficit increased to LE 37.2 billion.

Money talks
In February 2011, foreign currency and international reserves totalled LE 63.1 billion. Net international reserves fell 20% four months later while foreign currency fell 25%. In September 2011, foreign currency accounted for 45% of monies.

 


Total value of traded securities
The value of traded securities decreased significantly from January to August 2011, falling 47% and LE 11.12 billion to the latest figure of LE 12.46 billion. bt
 
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