Finance Ministry Offers 182-, 357-Day T-Bills Worth EGP 6.5 Bln

The Egyptian Ministry of Finance offers 182- and 357-day T-bills, worth EGP 2.5 billion and EGP 4 billion, respectively in an auction on Thursday, bringing the value of treasury bills and bonds the Ministry has offered since the start of February to EGP 27 billion.

The Ministry targets to sell treasury bills and bonds worth EGP 52.5 billion in February. The Ministry sells treasury bills and bonds so as to help finance the widening budget deficit which reached EGP 91 billion in the first half of FY 2012/2013, and is estimated to reach EGP 200 billion by the end of the current fiscal year.