Cairo – Mubasher: The Central Bank of Egypt (CBE) is set to issue treasury bills worth EGP 9.25 billion on Thursday, as part of its programme to finance the budget deficit.
The first tranche of the issuance is for EGP 5.75 billion and matures in 182 days, while the second 364-day tranche amounts to EGP 3.5 billion, according to a statement.
Government banks are usually the top buyers in the CBE's bonds and treasury bills.
The Ministry of Finance (MoF) reduced its debt issuances to EGP 273.6 billion in the second quarter of the fiscal year 2016-2017 from around EGP 324.5 billion in its previous scheme.
Egypt's budget deficit reached 12.2% of gross domestic product (GDP) in the fiscal year 2015-2016.
