Egypt FinMin is Raising EGP6.5 T-bills Today

Egypt’s finance ministry will be offering today 182- and 364-day treasury bills worth EGP 6.5 billion.

Egyptian Finance Ministry stated that it will be offering on Thursday 182- and 364-day T-bills at values of EGP 2.5 billion and EGP 4 billion, respectively.

The ministry is targeting offering of treasury bills and bonds totaled EGP 406.5 billion within the first half of the fiscal year of 2013/2014. As pursuant to the budget plan for this year, the ministry is aiming to provide funding for Egypt’s public spending and to fill the growing budget deficit which reached EGP 186 billion.