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Egypt’s central bank will be issuing Sunday, on behalf of Ministry of Finance, treasury bills totalling 7.5 billion Egyptian pounds ($410.4 million) to fill the country’s budget deficit.
In a statement released on Saturday, the central bank said it would raise two treasury bills; the first would be at value of 4.5 billion pounds, to mature in 91 days. The second will be worth 3 billion pounds, to mature in 266 days.
Egypt’s budget deficit is expected to reach 322 billion pounds by the end of the current financial year.
