Cairo – Mubasher: The Central Bank of Egypt would issue treasury bills worth EGP 9.5 billion to help wipe out the country’s widened budget deficit.
The issuance is divided onto two tranches: a 91-day auction worth EGP 4.5 billion and a 266-day auction at EGP 5 billion.
Egypt’s budget deficit widened to EGP 191.6 billion, or 6.8% of GDP during July – January 2015/16, compared with EGP 159.1 billion, or 6.5% of GDP for the year-ago period.
