Cairo – Mubasher: The Central Bank of Egypt (CBE) would issue EGP 10.25 billion in treasury bills in coordination with the Ministry of Finance (MoF) on Thursday, according to a statement by the bank.

The EGP 10.25 billion will be offered through two auctions: a 182-day auction worth EGP 4.75 billion and a 364-day auction worth EGP 5.5 billion.

According to official data, the country’s budget deficit stood at EGP 191.6 billion or 6.8% of gross domestic product during July-January 2015/16 and this figure is estimated by the MoF to reach EGP 319.46 in the fiscal year 2016/17.

Earlier, the government announced that it would auction treasury bills and bonds worth EGP 291.25 billion during the fourth quarter of the fiscal year 2015/16.