By: Heba Elkordy
Cairo – Mubasher: Egypt’s targeted debt instrument issues declined 5% quarter-on-quarter during the first quarter of the fiscal year 2018/2019 on the back of higher treasury-bill (T-bill) returns, according to a statement released by the Ministry of Finance (MoF) on Wednesday.
The MoF is planning to issue EGP 473.7 billion in T-bills in Q1-19 versus EGP 498 billion in Q4-18.
T-bonds valued at EGP 18.75 billion are planned to be issued in the period from January to March 2019, while EGP 455 billion T-bills are scheduled for issuance during the same period, the MoF stated.
The ministry is also planning to issue EGP 409.6 billion T-bills and EGP 101.6 billion T-bonds in the current fiscal year.
The returns on T-bonds and T-bills have increased in the past period, to as much as 20%, especially after a series of tax modifications.
Translated by: Muhammad Khalid
