Cairo – Mubasher: Returns on the Egyptian government’s treasury bills settled in Sunday’s auction, according to date released by the Ministry of Finance (MoF).
The return on the 91-day bills reached 14.504% compared to 14.507% in the last week auction.
Similarly, the return on the 273-day also remained flat as it reached 16.490% from 16.415%.
The Central Bank of Egypt (CBE) issued on Sunday, in coordination with the Ministry of Finance (MoF), treasury bills worth EGP 11 billion to support the country's budget deficit
On 22 September, Egypt's Central Bank (CBE) maintained the interest rates steady, contrary to analysts’ expectations.
Earlier, the MoF stated that Egypt’s budget deficit increased to EGP 191.6 billion in the fiscal year 2015-2016, representing 6.8% of the gross domestic product (GDP) and is estimated to reach EGP 319.46 billion in FY16/17.
Egypt's local debt reached EGP 2.49 trillion by March 2016, while external debt stood at $53.4 billion by the third quarter of FY2015-16, according to the Central Bank of Egypt’s (CBE) database.
