Cairo – Mubasher: The Central Bank of Egypt (CBE) said Thursday that it will issue treasury bills worth EGP8.75 billion on behalf of the Ministry of Finance to fund budget deficit.
The EGP 8.75 billion will be offered through two auctions: a 182-day auction at a value of EGP4 billion and a 364-auction at a value of EGP4.75 billion.
The country’s budget deficit widened to EGP138.5 billion, or 4.9% of the gross domestic period (GDP) within July – November 2015/16, compared to EGP107.9 billion or 4.4% of GDP for the year-ago period.
