Cairo – Mubasher: The Central Bank of Egypt said it would issue EGP 9.75 billion in treasury bills on behalf of the Ministry of Finance on Sunday.
The EGP 9.5 billion will be offered through two auctions to fund budget deficit: a 91-day auction at EGP 4.75 billion and a 266-day auction at EGP 5 billion.
During July – January 2015/16, the country's budget deficit widened to EGP 191.6 billion or 6.8 of gross domestic product (GDP), compared with EGP 159.1 billion, or 6.5% of GDP for the year-ago period.
Earlier, the government announced its plan to issue treasury bills and bonds at EGP 291.25 billion during FY15/16 fourth quarter, versus EGP 249 billion for the year-ago quarter.
