Ministry of Finance plans to offer treasury bills worth EGP22.85 billion through three offers during the current week، to cover the budget’s financing gap.
The ministry aims to put treasury bills maturities (91، 182،273، 364) days، totaling EGP22 billion through two offers on Sunday and Thursday.
In addition، the ministry seeks to sell its offers of treasury bills for maturities (91 and 273) days during Sunday، worth EGP11 billion.
Meanwhile، the ministry plans to sell its other offers of treasury bills for maturities (182 and 364) on Thursday، worth the same value of maturities (91 and 273).
The ministry targets selling its offers of treasury bills for maturities (3 and 7) years during next Monday، worth EGP850 million.
On the other hand، the state’s budget deficit reached EGP174.6 billion in the first half of the current fiscal year 20162017، as a result the ministry offers bills and treasury bonds، as well as government debt instruments، in order to cover the deficit. Egypt receives financial aid in the shape of grants and loans from Arab countries to cover the deficit.