Egypt’s Ministry of Finance is issuing Wednesday and Thursday treasury bills as banks will close on October 2nd for new Islamic year holidays.
The government issues treasury bills and treasury bonds in an attempt to fill the country’s state budget deficit.
In a statement released on Tuesday, the ministry said it would raise on Wednesday two treasury bills; the first is worth 12 billion pounds, to mature in 182 days. The second will be at value of 12 billion pounds, to mature in 364 days.
For Thursday, the ministry is set to issue two treasury bills; the first will be worth 11.5 billion pounds, to mature in 91 days. The second will amount to 11.5 billion pounds, to mature in 273 days.
State budget deficit is expected to reach 322 billion pounds by end of the current financial year.
(1 Egyptian pound = $0.11)
