Government borrows LE 14B in T-bills Thursday

CAIRO – 17 August 2017: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is scheduled to auction LE 14 billion ($790 million) in treasury bills (T-bills) on Thursday.

Egypt’s central bank holds T-bills auctions every Sunday and Thursday. The T-bills are to be offered in two installments, with the first valued at LE 6.75 billion with a 182-day term and the second worth LE 7.25 billion with a 364-day term.

The budget deficit is expected to stand at LE 322 billion by the end of fiscal year 2017/18, to be filled by treasury bills and bonds issued by the CBE, and through Arab and foreign loans and grants.