CBE to issue t-bills worth 10.2 bln Egyptian pounds Sunday

Egypt’s central bank will issue Sunday treasury bills totalling 10.2 billion Egyptian pounds ($1.1 billion), on behalf of the ministry of finance, it said on Saturday.

In a bid to fill the country’s state budget deficit, the central bank said it would raise two treasury bills; the first worth 4.7 billion pounds, to mature in 91 days. The second is at value of 5.5 billion pounds, to mature in 266 days.

State budget deficit is expected to reach 322 billion pounds by end of the current financial year.