CBE to Auction T-bills worth 5 billion Pounds 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 5 billion.

Throughout its official website, the CBE stated that the first offering; 91-day is at value of EGP 2 billion, whereas the second offering; the 273-day amounts to EGP 3 billion.

Egypt’s Finance Ministry is issuing treasury bills and treasury bonds to go for filling the state’s budget deficit which reached EGP 123.6 billion during the period from July to February of the current fiscal year.

Meanwhile, the North African country’s government has issued governmental instruments totalling EGP 609 billion throughout the last 9 months from July 2013 to March 2013. It is planned to offer more instruments at value of EGP 205 billion within the next three months.