Egypt’s Banks Public Sector Hit EGP164.3b T-Bills Investments

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The total financial institutions investments of treasury bills boosted EGP2 billion in February 2014 to reach up EGP453.9 billion compared to EGP451.9 billion at the end of January.

The banks 91-day maturities investments registered EGP56.5 billion and 266-day maturities investments attained EGP63.3billion , whereas EGP111.8billion  of 364- day has been reached at February 2014, according to the latest reports of the Central bank.

The banks’ public sector captured around 36.1%% despite the decline of investments to EGP164.3 billion at the end of February 2014 against EGP166.8 billion at January end.

The banks’ private sector investments of t- bills recorded EP145.4 billion at the end of February 2014 compared to EGP144.4 billion at January end.

It is noteworthy that the government rely on the domestic borrowing through treasury bills and bonds in order to cover the state budget which amounting to EGP123.6billion during the period ranging from July2013 to February2014 that represented 6% of GDP.