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Egypt banknote issuance increases

An official statement from the Central Bank of Egypt (CBE) has noted that the issuance of Egyptian banknotes rose to EGP 264.1billion (US$37.9bn) during the 2012/2013 financial year, an increase of EGP 56.7 billion (US$8.15bn). It was noted in the statement that government expenditure led to an increase in the budget deficit, after reaching EGP…