Egypt’s FinMin to Auction EGP 6 Bln T-Bills

Egypt’s Ministry of Finance is offering tomorrow 91- and 266-day treasury bills worth at EGP 7 billion.

Ministry of Finance, through its official website, mentioned that the 91-day treasury bills worth EGP 2 billion, whereas the 266-day T-bills at value of EGP 4 billion. 

The Ministry of Finance depends mainly on the issuance of short-term financing instruments represented in treasury bills. Last year ministry of finance had sold EGP 533 billion t-bills. Moreover, last year also finance ministry had successively sold treasury bills and bonds worth EGP 614 billion which put pressure on the gross domestic debt; noting that the national debt surged to EGP  1387 billion.