CBE to issue t-bills worth 11.2 bln Egyptian pounds today

Egypt’s central bank is issuing Sunday treasury bills worth 11.2 billion Egyptian pounds ($1.26 billion), on behalf of Ministry of Finance, to fill the country’s state budget deficit.

In a statement released on Saturday, the central bank said it would raise two treasury bills; the first is worth 5.7 billion pounds, to mature in 91 days. The second will be at value of 5.5 billion pounds, to mature in 273 days.

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