ID :
174081
Fri, 04/08/2011 - 11:55
Auther :
Shortlink :
https://oananews.org//node/174081
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Liquidity growth reaches 10.8% in Yemen during January
SANA'A, April 8 (Saba)- An increase in liquidity growth was marked during January, as domestic inflation crept up and
oil income increased, the Central Bank of Yemen has said.
Broad money (M2) growth accelerated to 10.8% year-on-year (y/y) from 9.2% y/y in December, reaching 2,261.3 billion Yemeni rial (USD 10.6 billion).
Narrow money (M1) supply grew 6% y/y to reach YER758.1 billion at the end of January, on the back of 12.8% y/y growth in demand deposits.
The rise in dollarisation continued unabated in January, as foreign-currency-denominated deposits grew 15.3% y/y to YER783.5 billion, compared with 10.2% y/y growth in domestic-currency-denominated
savings deposits, which reached YER135.6 billion at the end of the month.
Meanwhile, the government borrowing from the central bank surged 27% y/y to YER427.6 billion at the end of January, or around 23% of total central bank assets.
The government borrowing from commercial and Islamic banks also surged during the month, up 22.4% y/y to YER627.4 billion.
Significance: IHS Global Insight expects money-supply growth to remain relatively stable throughout 2011 and 2012 in the low double digits, supported by higher global oil
prices and new liquefied natural gas export revenue.
oil income increased, the Central Bank of Yemen has said.
Broad money (M2) growth accelerated to 10.8% year-on-year (y/y) from 9.2% y/y in December, reaching 2,261.3 billion Yemeni rial (USD 10.6 billion).
Narrow money (M1) supply grew 6% y/y to reach YER758.1 billion at the end of January, on the back of 12.8% y/y growth in demand deposits.
The rise in dollarisation continued unabated in January, as foreign-currency-denominated deposits grew 15.3% y/y to YER783.5 billion, compared with 10.2% y/y growth in domestic-currency-denominated
savings deposits, which reached YER135.6 billion at the end of the month.
Meanwhile, the government borrowing from the central bank surged 27% y/y to YER427.6 billion at the end of January, or around 23% of total central bank assets.
The government borrowing from commercial and Islamic banks also surged during the month, up 22.4% y/y to YER627.4 billion.
Significance: IHS Global Insight expects money-supply growth to remain relatively stable throughout 2011 and 2012 in the low double digits, supported by higher global oil
prices and new liquefied natural gas export revenue.
