Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 18.75 billion on Sunday on behalf of the Ministry of Finance (MoF).

The first tranche amounts to EGP 9.25 billion and will be offered through 91-day notes, while the second tranche will be offered through 273-day notes valued at EGP 9.5 billion, the CBE said via its official website.

The issuance will be used to finance the country’s budget deficit.

The Egyptian government slashed the country's public debt to gross domestic product (GDP) rate to 90.5% by the end of June from 98% in the same month a year earlier.