Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 14.5 billion on Sunday, in coordination with the Ministry of Finance (MoF) to bridge the budget deficit.

The issuance will be through two tranches, 91-day bills worth EGP 4 billion, and 266-day bills at EGP 10.5 billion, according to the central bank’s website.

State-run banks are the biggest buyers of government-issued debt instruments.

Egypt successfully lowered the debt-to-GDP ratio to 90.5% by the end of last June, down from 98% a year earlier.