CBE issues treasury bills worth 9.7 bln Egyptian pounds

Egypt’s central bank is issuing Sunday treasury bills worth 9.7 billion Egyptian pounds ($1.1 billion) to fill the country’s state budget deficit.

On behalf of the ministry of finance, the central bank said it would raise two treasury bills; the first worth 4.7 billion pounds, to mature in 91 days. The second is at value of 5 billion pounds, to mature in 266 days.

State budget deficit is expected to reach 322 billion pounds by the end of the current financial year.