Mubasher TV
Contact Us Advertising   العربية

CBE to issue EGP 10.25bn treasury bills

CBE to issue EGP 10.25bn treasury bills
Egypt's Ministry of Finance

Cairo-Mubasher: The Central Bank of Egypt (CBE) announced it would issue EGP 10.25 billion treasury bills, on behalf of the Ministry of Finance (MoF). The issuance will be used to finance the country’s budget deficit.

The CBE noted that the first offering will be EGP 4.75 billion for 182 days, while the second offering will be EGP 5.5 billion for 357 days.

Earlier, the MoF stated that Egypt’s budget deficit increased to EGP 191.6 billion in the fiscal year 2015/16, representing 6.8% of the gross domestic product (GDP) and is estimated to reach EGP 319.46 billion in FY16/17.