Finance Ministry Offers 182-, 365-Day T-Bills Worth EGP 6.5 Bln On Thursday

The Egyptian Ministry of Finance offers 182-and 365-day T-bills worth EGP 6.5 billion on Thursday.

The Ministry aims to raise EGP 2.5 billion from 182-day T-bills and EGP 4 billion from 364-day T-bills.

This will raise the value of treasury bills and bonds offered by the Ministry to EGP 40 billion since the beginning of February, in addition to selling dollar-denominated T-bills worth US$ 819 million.

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 finance the widening budget deficit which reached EGP 91 billion at the end of the first half of FY 2012/2013 and is estimated to reach EGP 200 billion by the end of the current fiscal year.