CBE to issue t-bills worth 12 billion Egyptian pounds today

Egypt’s central bank is issuing Thursday, in cooperation with Ministry of Finance, treasury bills worth 12 billion Egyptian pounds ($1.3 billion), to fill the country’s budget deficit.

In a statement released on Thursday, the central bank said it would raise two treasury bills; the first will be worth 5.5 billion pounds, to mature in 182 days. The second is valued at 6.5 billion pounds, to mature in 364 days, the central bank added.

Ministry of Finance has estimated the country’s total budget deficit for the financial year 2016-2017 at around 319.46 billion pounds.