Egypt c.bank to issue t-bills worth 11.25 bln Egyptian pounds on Sunday

Egypt’s central bank will be issuing on Sunday treasury bills totalling 11.25 billion Egyptian pounds ($1.2 billion), on behalf of the ministry of finance, it said in a statement Saturday.

In a bid to fill the country’s state budget deficit, the central bank said it would raise two treasury bills; the first is worth 5.75 billion pounds, to mature in 91 days. The second is 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.