Cairo – Mubasher: The Central Bank of Egypt (CBE) said it would auction treasury bills worth EGP 7.5 billion.
The EGP 7.5 billion-treasury bills will be offered over two tranches, where the first one will worth EGP 4.5 billion and will due in 182 days, while the second one will worth EGP 3 billion and will due in 364 days.
The government borrows through issuing both treasury bills and bonds in order to finance the state budget deficit.
The country’s budget deficit is expected to reach EGP 319.46 billion in the fiscal year 2016 – 2017.
