CBE auctions 6.5m EGP in treasury bills Thursday
Central Bank of Egypt -YOUM7 (Archive)

CAIRO: The Central Bank of Egypt (CBE) on behalf of the Ministry of Finance, plans to auction 6.5 billion EGP ($933.81 million) in short-term treasury bills Thursday, according to CBE’s statement on its home page.

The 6.5 million EGP treasury-bills are scheduled to be offered in two installments, one worth 2.5 billion EGP with 182 days term and the second valued 4 billion EGP with 357-day-term.

Egypt’s budget deficit is expected to reach 240 billion EGP by the end of the current fiscal year.

The budget’s deficit is currently funded by CBE treasury bills and bonds, one of the governmental instruments for debts, as well as from Gulf countries’ aid and international loans.

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