Egypt’s M2 Money Supply grows 14.4% y-o-y in November

Egypt is printing money at a slower pace: Egypt’s M2 money supply grew 14.04% y-o-y at the end of November to EGP 3.58 tn, according to CBE data. That pace is slower than the previous two months — broad money supply grew by 15.4% and 16.3% in October and September, respectively.

What is M2, anyway? Think of it as a broad measure of how much money is circulating in the economy. M2 includes currency in circulation as well as both local- and foreign-currency saving and time deposits. Investopedia has more.