Egypt to Raise T-bills Worth EGP6.5 bln Today

Egypt will be offering today 182-and 357-day treasury bills worth EGP 6.5 billion, the country’s finance ministry said in a statement.

The Egyptian finance ministry further noted that the 182-day treasury bills are worth EGP 2.5 billion, whereas 357-day treasury bills are at value of EGP 4 billion.

It is worth noting that Egypt is offering t-bills and –bonds seeking to provide additional financial sources in order to fill the country’s mounting budget deficit which registered 14% of the GDP during the last fiscal year. The current Egyptian government is aiming to ease the national budget deficit to 9.1% of the GDP.