CBE Raises T-bills worth EGP4.5 bln Today

On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt will be offering today 91- and 273-day treasury bills worth EGP 4.5 billion.

Throughout its official website, the CBE stated that the first offering; 91-day t-bills is at value of EGP 1.5 billion, whereas the second offering; the 273-day t-bills amounts to EGP 3 billion.

It is worth to note that the Egyptian government is raising periodic auctions of treasury bills and treasury bonds to fill the state budget deficit which amounts to around EGP 74.5 billion during the first four months of the fiscal year, accounts for 40% of the total targeted deficit within the current fiscal year which is valued at EGP 186 billion.