Finance Ministry Offers 91-, 273-Day T-Bills Worth EGP 5.5 Bln

The Egyptian Ministry of Finance offers 91- and 273-day T-bills worth EGP 5.5 billion on Sunday.

The Ministry aims to raise EGP 1.5 billion from 91-day T-bills and EGP 4 billion from 273-day T-bills.

This will raise the value of treasury bills and bonds offered by the Ministry to EGP 45.5 billion since the beginning of February, in addition to dollar-denominated T-bills worth US$ 819 million.

The Finance 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 in the first half of FY 2012/2013, and is expected to reach EGP 200 billion by the end of the current fiscal year.