Cairo – Mubasher: Returns on the Egyptian government’s treasury bills declined on Sunday’s auction, according to date released by the Ministry of Finance (MoF).
The Central Bank of Egypt (CBE) revealed that the average return on the 91-day bills reached 19.05%, compared to 19.08% in the previous auction, while return on the 273-day bills stood at 18.9%, down from 19%.
The CBE announced earlier that it will issue treasury bills worth EGP 14 billion.
The Egyptian finance ministry estimates the total budget deficit for fiscal year 2016-2017 at around EGP 319 billion compared to an actual deficit of EGP 339 billion in the previous year.
The MoF has issued debt instruments worth EGP 371 billion during the first quarter of fiscal year 2017/2018, the highest level since 2005.
