CBE to Auction T-bills worth EGP5.5 bln Tomorrow

On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt will be offering tomorrow 91- and 266-day treasury bills worth EGP 5.5 billion.

Throughout its official website, the CBE stated that the first offering; 91-day t-bills is at value of EGP 2 billion, whereas the second offering; the 266-day t-bills amounts to EGP 3.5 billion.

This comes in accordance with the Egyptian government’s plan to offer debt instruments to fill the country’s growing budget deficit which hit EGP 74.5 billion during the first 4 months of the current fiscal year.