Cairo – Mubasher: The Central Bank of Egypt sold treasury bills worth EGP8.75 billion, offered through two auctions: a 182-day auction and a 364-day auction, the Ministry of Finance (MoF) announced Thursday.
The proceedings of the first auction, which was covered 1.7 times, hit EGP4 billion with an average yield of 11.862%, maximum yield of 11.890% and yield-to-worst of 11.600%.
Meanwhile, the second auction, which was covered 1.5 times, reached EGP4.75 billion at an average yield of 12.159%, maximum and minimum yields of 12.180% and 12% respectively.
The Egyptian government issues T-bills and bonds to fund the state budget deficit that reached 4.9% of GDP or EGP138.5 billion in 2015/16, against EGP107.9 last year.
