CBE to issue treasury bills worth 7.5 billion Egyptian pounds today

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.