Cairo – Mubasher: Ministry of Finance intends to increase the issuance of treasury bills and bonds by 15.3% during the second quarter of FY 2016-2017.
Total issuances reached EGP 324.5 billion in the period between October and December 2016, compared to EGP 281.5 billion in the same quarter of the previous year, according to the ministry's website.
The 3-month treasury bills acquire 92.5% of the issuances' value to reach EGP 300.25 billion, while the bonds worth EGP 24.25 billion.
The increase in T-bills issuance reflects the need of the finance ministry for rapid finance to meet the budget's deficit amid lower revenues.
The ministry estimated the total deficit in the general budget project for the FY 2016-2017 by about EGP 319.46 billion, while the deficit reached EGP 311 billion during the period between July and May 2015.
