Cairo – Mubasher: The Central Bank of Egypt (CBE) said Thursday it will auction EGP 7.5 billion in treasury bills.
The EGP 7.5 billion will be offered through two auctions – a 91-day auction at a value of EGP 4.5 billion and a 273-day auction at a value EGP 3 billion.
The government borrows through issuing various debt instruments over different time intervals, in order to finance the state budget deficit.
Egypt’s budget deficit is expected to record EGP319.46 billion at the state budget of the fiscal year 2016/17.
