Cairo – Mubasher: On behalf of the Egyptian Ministry of Finance, the Central Bank of Egypt (CIB) is set to offer EGP 107.75 billion worth of treasury bills and bonds in next March.
The figure marks an increase of 18%, from EGP 91 planned a year earlier.
The amount of EGP 107.75 billion will be assorted between EGP 80 billion that will be offered through treasury bills and EGP 27.75 billion that will be offered through treasury bonds.
The ministry of finance plans to issue 91-days, 182-days, 273-days and 364-days treasury bills worth EGP 15bln, EGP 20bln, EGP 22.5bln and EGP 22.5bln respectively.
Meanwhile, the finance ministry intends to issue 3-year, 5-year, and 7-year and 10-year bonds worth EGP 6bln, EGP 9bln, EGP 3.5bln and EGP 5.25bln respectively.
The ministry will also issue zero-coupon treasury bills worth EGP 4 billion.
The state’s budget deficit is reimbursed by the Central Bank, which offers treasury bills, bonds and other forms of government credit on behalf of the Ministry of Finance.
The country’s budget deficit is projected to reach EGP 251 billion in the fiscal year 2016/17, comprising around 8.9% of the country’s Gross Domestic Products (GDP).
Egypt’s domestic debt amounted to EGP 2.259 trillion in September 2015, up from EGP 2.116 billion in June 2015, according to the data released by the Central Bank of Egypt (CIB).
