Cairo-Mubasher: The Central Bank of Egypt (CBE) said Thursday it will auction EGP 7.5 billion in treasury bills.
The EGP 7.5 billion will be offered through two auctions; whereas the first will last 91 days for a value of EGP 3 billion and the second for 273 days at a value EGP 4.5 billion.
The country's budget deficit widened to EGP 68.3 billion, or 2.4% of gross domestic product (GDP) within two months during the period from July to -August 2015, against EGP 56 billion or 2.3% of GDP for the similar period of the previous year.
It is noteworthy that this will be the first treasury-bills auction after Tarek Amer, new Governor of the Central Bank of Egypt (CBE), started his job responsibilities.
Amer was scheduled to take the chair on 27 November, according to a presidential decision.
However, the date fell on a Friday, which is an official holiday at the CBE and banks operating in the Egyptian market, thereby delaying the step to a Sunday on 29 November.
