Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Sunday treasury bills worth EGP 13 billion, in coordination with the Ministry of Finance (MoF) to support the country’s budget deficit.
The treasury bills will be issued through two tranches, 91-day bills at EGP 6.25 billion, and 273-day bills worth EGP 6.75 billion, according to the CBE’s website.
The Egyptian finance ministry estimates the total budget deficit for fiscal year 2016-2017 at around EGP 319 billion compared to an actual deficit of EGP 339 billion in the previous year.
The MoF aims at issuing debt instruments worth EGP 110.75 billion during July 2017, compared to EGP 88.6 billion in the same month last year, with an increase of 25%, as well as a record high of EGP 371 billion during Q1-FY17/18.
