Home MoneyBanks CBE to issue treasury bills worth 7.5 billion Egyptian pounds today

CBE to issue treasury bills worth 7.5 billion Egyptian pounds today

by Yomna Yasser

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.

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