Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 19 billion on Thursday on behalf of the Ministry of Finance (MoF).

The first tranche of the T-bills will be offered through 182-day notes valued at EGP 9.25 billion, while the second tranche stands at EGP 9.75 billion and will be offered through 364-day notes, the CBE said via its official website.

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

The Egyptian government managed to slash public debt to gross domestic product (GDP) ratio to 90.5% by the end of last June, compared to 98% in June 2018.