Egypt’s Finance Ministry is planning to issue EGP 64.5 billion ($9 billion) worth of debt instruments during August, compared with EGP 79.5 billion ($11.13 billion) in July.
The state debt plans for the current quarter include borrowing EGP 224.5 billion ($31.44 billion) to plug the state budget deficit, a key official at the Finance Ministry told Alarabiya.net.
Egypt’s budget deficit is expected to reach EGP 240 billion ($33.61 billion).
Yields on treasury bills and bonds are also forecasted to rise over the coming period due to the decision of the Central Bank of Egypt (CBE) to raise lending and deposit interest rates.
The state debt plans for the current quarter include borrowing EGP 224.5 billion ($31.44 billion) to plug the state budget deficit, a key official at the Finance Ministry told Alarabiya.net.
Egypt’s budget deficit is expected to reach EGP 240 billion ($33.61 billion).
Yields on treasury bills and bonds are also forecasted to rise over the coming period due to the decision of the Central Bank of Egypt (CBE) to raise lending and deposit interest rates.
Source:
Mubasher
