Egypt Sells 91-, 273-Day T-Bills worth EGP 4 Bln On Sunday

The Egyptian Ministry of Finance sold 91- and 273-day T-bills worth EGP 4 billion in an auction on Sunday.

The yield on 91-day T-bills (worth EGP 500 million) ranged from 12.252% to 13.016%, while the average return registered 12.825%.

The yield on 273-day T-bills (worth EGP 3.5 billion) ranged from 12.800% to 14.290%, while the average return registered 14.020%.

The Ministry targets to sell treasury bills and bonds worth EGP 97.5 billion in February and March. The Ministry sells government debt instruments in order to finance the widening budget deficit which is expected to reach EGP 200 billion by the end of the current fiscal year.

The Central Bank of Egypt (CBE) sells treasury bills and bonds on behalf of the Ministry of Finance.