Cairo – Mubasher: The Central Bank of Egypt (CBE) on Monday announced that Egypt sold EUR 659.9 million in one-year treasury bills (T-bills) through accepting 24 bank offers out of a total of 29 offers.
The CBE is determined to sell EUR 659 million in T-bills, with an average yield of 1.797%.
Egyptian debt instruments are attracting a large number of foreign investors, especially treasury bills, as the return on bonds exceeded 20%.
The government raised its forecast for the budget deficit to 10.9% of the gross domestic product (GDP) during the current fiscal year, while aiming to reduce it to 9% over the next year.
