In coordination with the Ministry of Finance (MOF)، the Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 14.5 billion on Sunday to finance the budget deficit.
The first tranche of T-bills will be offered through 91-day notes at EGP 6.75 billion، while the second offering will be through 266-day notes at EGP 7.75 billion، the CBE added on its official website.
Egyptian debt instruments are attracting a large number of foreign investors، especially T-bills، as the bonds’ yield exceeded. The budget deficit is expected to reach EGP 370 billion by the end of the current fiscal year. The Central Bank of Egypt issues treasures bills and bonds، on behalf the Finance ministry، in addition to receiving aids and grants from Arab countries and international loans in order to finance the budget deficit.
The MOF posted a 51% year-on-year surge in T-bills and T-bonds issues for the second quarter of fiscal year 20172018.