Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue on Sunday treasury bills worth EGP 9.75 billion.
The issuance will be done in coordination with the Ministry of Finance (MoF) to finance the budget deficit.
The first tranche of the issuance amounts to EGP 4.75 billion and will last for 91 days, while the second tranche, spanning 266 days, will be worth EGP 5 billion, the CBE said on its official website.
The MoF has estimated the overall deficit in the new general budget for the fiscal year 2016/2017 at EGP 319.46 billion.
The ministry also said that the budget deficit stood at EGP 191.6 billion, during July-January 2015/16, representing 6.8% of gross domestic product.
