Egyptian Finance Offering EGP 6 bln T-Bills Today

The Egyptian Finance Ministry is offering today 266-and 91-day treasury bills worth EGP 6 billion, the country’s finance ministry said in a statement.

The Egyptian finance ministry further noted that the 91-day treasury bills are worth EGP 2 billion, whereas 266-day treasury bills are at value of EGP 4 billion.

The Egyptian ministry targeted to sell treasury bonds and bills with various maturities at values of EGP 62 billion. The total offers reached EGP 197 billion within the first quarter of FY13/14.

The Ministry will resort to fill the country’s mounting budget deficit which registered 9.1% of the GDP d and amounted at EGP 186 billion during the last fiscal year.