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Egypt’s central bank will issue Sunday, on behalf of Ministry of Finance, treasury bills totalling 7.5 billion Egyptian pounds ($396.2 million) to fill the country’s budget deficit.
The Central Bank of Egypt (CBE) said in a statement that 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 273 days.
Egyptian Ministry of Finance has estimated the country’s budget deficit for the financial year 2016-2017 at 319.46 billion pounds.
