Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 13.25 billion on Thursday in coordination with the Ministry of Finance (MOF) to finance the budget deficit.
The first tranche of T-bills will be offered through 182-day notes at EGP 6.5 billion, while the second offering will be through 364-day notes at EGP 6.75 billion, according to the CBE’s official website.
The MOF estimated Egypt’s total budget deficit at EGP 319.46 billion in fiscal year 2016/2017, compared to EGP 339 billion in the prior fiscal year.
Hinging on the debt instruments has aggravated the cost of debt on the general budget to reach EGP 380 billion in the current fiscal year, compared to estimations of EGP 311 billion in the previous fiscal year.
