CBE to issue treasury bills worth 7.5 billion Egyptian pounds today

Egypt’s central bank will be issuing Sunday, on behalf of Ministry of Finance, treasury bills totalling 7.5 billion Egyptian pounds ($410.4 million) to fill the country’s budget deficit.

In a statement released on Saturday, the central bank said it would raise two treasury bills; the first would be at value of 4.5 billion pounds, to mature in 91 days. The second will be worth 3 billion pounds, to mature in 266 days.

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