Cairo – Mubasher: The Central Bank of Egypt would issue EGP 10.25 billion treasury bills on Sunday to fund the country’s budget deficit in coordination with the Ministry of Finance, according to the bank’s official website.
The EGP 10.25 billion will be offered through two auctions: a 91-day auction at a value of EGP 4.75 billion and a 273-day auction at a value EGP 5.5 billion.
Egypt’s budget deficit widened 19% year-over-year to EGP 311 billion, or 11.2% of gross domestic product during July-May 2015/16.
The government earlier announced planning to issue treasury bills and bonds worth EGP 121.25 billion ($13.63 billion) during August.
