Cairo – Mubasher: The yields on the Egyptian government’s treasury bills (T.bills) surged 26.6% year-on-year during the first seven months of the fiscal year 2018/2020.

Egypt’s T.bill returns reached EGP 28.52 billion from July 2018 to January 2019, the finance ministry said on Tuesday.

Earlier today, a senior government official stated that Egypt was considering the possibility of issuing local, floating-rate bonds by linking them to inflation or the Central Bank of Egypt’s (CBE) corridor rate.

The government aims to issue these bonds in a bid to cut the state’s debt service burden, the official told Enterprise.