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

The Egyptian Ministry of Finance sold 182- and 357- day T-bills worth EGP 2.5 billion and EGP 4 billion on Thursday, respectively.

The yields on 182-day T-bills ranged from 13.001% to 13.491%, while the average rate registered 13.419%. The yields on 357- day T-bills ranged from 13.75% to 14.050%, while the average rate registered 14.003%.

The auctions raised the value of treasury bills and bonds the Ministry has offered since the start of this week to EGP 14.5 billion.

The Ministry sells treasury bills and bonds so as to help financing 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.