Central bank of Egypt issues 13.25 bln pounds treasury bills

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The Central Bank of Egypt, on the behalf of the Ministry of Finance, issued Thursday in treasury bills estimated at 13.25 billion Egyptian pounds ($748 million).

Treasury bills are offered in two installments, the first valued at 6.5 billion pounds at 182-day term, while the second is valued at 6.75 billion pounds at 357-day term.

T-bills are usually issued every Sunday and Thursday.

The budget deficit is expected to stand at 322 billion pounds at the end of financial year 2017/2018, to be filled by treasury bills and bonds issued by the CBE, and through Arab and foreign loans and grants. Source: Egypt today