CBE to auction t-bills, t-bonds worth 12.25 bln Egyptian pounds today

Egypt’s central bank is issuing Thursday treasury bonds and treasury bills worth 12.25 billion Egyptian pounds ($1.4 billion), in cooperation with Ministry of Finance, to fill the country’s state budget deficit.

In a statement released on Thursday, the central bank said it would raise two treasury bills; the first is worth 6 billion pounds, to mature in 91 days. The second will be at value of 5.5 billion pounds, to mature in 266 days.

The central bank said it would also raise treasury bonds at value of 750 million pounds, to mature in five years.

State budget deficit is expected to reach 322 billion pounds by end of the current financial year.