C. Bank to Raise EGP5.5 bln T-Bills Tomorrow

On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt (CBE) will offer tomorrow 182- and 364-day treasury bills worth EGP 5.5 billion.

Throughout its official website, the CBE stated that the first offering; 182-day is at value of EGP 2 billion, whereas the second offering; the 273-day amounts to EGP 3.5 billion.

This comes in accordance with the Egyptian Finance Ministry’s plan to cover the budget deficit which reached EGP 74.5 billion within the first four months of the current fiscal year, registering 40% from the total deficit that targeting within the current fiscal year worth EGP 186 billion.