Foreign investments in Egyptian treasuries reach EGP233.8bln in Jan.

Net foreign investments in government debt instruments jumped 21.6 percent in January, recording 233.8 billion Egyptian pounds, compared to 192.2 billion pounds in December, according to the Central Bank of Egypt’s (CBE).

Finance Minister Mohamed Ma’it and Vice Minister of Finance Ahmed Kojak announced during a press conference in February that foreign investments in Egyptian treasuries stood at $13.1 billion by end-January.

Ma’it then clarified that the inflows during January recorded of $900 million.

The bulletin revealed that treasury bills’ outstanding balances hit LE 1.37 trillion in January, compared to LE 1.30 trillion in December.

Previously, the Ministry of Finance announced financial treatments on treasury bills and bonds. Finance Minister Ma’it revealed the reason behind the financial treatments of T-bills’ taxes, saying that it’s one of the rights of the treasury.

Ma’it notes the share of the treasury from the taxes wasn’t collected before.