The Central Bank of Egypt (CBE) auctioned on Thursday EGP7 billion in treasury bills.

A 182- day treasury bills were sold at a value of EGP 3 billion. Average yield amounted to 11.384%, while maximum and minimum yields reached 11.410% and 11.251% respectively.  

Meanwhile, 357-day treasury bills were sold at a value of EGP 4 billion. Average yield amounted to 11.474%, while maximum and minimum yields amounted to 11.500% and 11.200% respectively.

Egypt's budget deficit is expected to exceed EGP 240 billion by the end of the current fiscal year and It is financed through treasury bills and bonds, in addition to financial aid and loans from Arab and foreign countries.