Ministry of Finance to issue t-bills of 10.2 bln Egyptian pounds Sunday

Egypt’s Ministry of Finance is set to issue on Sunday treasury bills worth 10.2 billion Egyptian pounds ($1.15 billion) designated to fill the country’s state budget deficit.

In a statement released on Saturday, the ministry said it would raise two treasury bills; the first is worth 4.7 billion pounds, to mature in 91 days. The second will be at value of 5.5 billion pounds, to mature in 273 days.

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