Central bank of Egypt issues 13.25 bln pounds treasury bills

The Central Bank of Egypt, on the behalf of the Ministry of Finance, issued Thursday in treasury bills estimated at 13.25 billion Egyptian pounds ($748 million).

Treasury bills are offered in two installments, the first valued at 6.5 billion pounds at 182-day term, while the second is valued at 6.75 billion pounds at 357-day term.

T-bills are usually issued every Sunday and Thursday.

The budget deficit is expected to stand at 322 billion pounds at the end of financial year 2017/2018, to be filled by treasury bills and bonds issued by the CBE, and through Arab and foreign loans and grants. Source: Egypt today