Central Bank of Egypt (CBE) issued on Sunday treasury bills worth 13.5 billion Egyptian pounds , in coordination with the country’s Ministry of Finance (MoF) to support the state budget deficit.
The treasury bills was issued through two tranches, 91-day bills of 6.5 billion pounds, and 266-day bills of 7 billion pounds.
The ministry estimates the total budget deficit of around 319 billion pounds for the financial year 2016/2017, compared with an 339 billion during the financial year 2015/2016.
The ministry earlier revealed that it aims at issuing debt instruments worth 110.75 billion pounds within July 2017, compared to 88.6 billion pounds during the same month in 2016, with an increase of 25 percent. Source: Mubasher