Finance Ministry Offers 91-, 266-Day T-Bills Worth EGP 5.5 Bln

The Egyptian Ministry of Finance offers on Sunday 91- and 266-day T-bills worth EGP 1.5 billion and EGP 4 billion, respectively.

This will raise the value of treasury bills and bonds offered by the Ministry since the beginning of February to EGP 32.5 billion. The Ministry targets to offer 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 in the first half of FY 2012/2013, and is estimated to reach EGP 200 billion by the end of this fiscal year.