Cairo – Mubasher: The Central Bank of Egypt said it would issue EGP 9.5 billion in treasury bills in coordination with the Ministry of Finance (MoF) to fund the budget deficit.
The EGP 9.5 billion will be offered through two auctions: a 182-day auction at EGP 4.5 billion and a 364-day auction valued at EGP 5 billion.
During June, the MoF is planning to issue treasury bills and bonds at EGP 89.5 billion compared with EGP 95.25 billion a month earlier.
Egypt's budget deficit widened to EGP 254.9 billion, 7.9% of gross domestic product (GDP) during July-March 2015/16.
