Finance Ministry auctions LE 22B in T-bills, bonds in November

CAIRO – 1 November 2017: The Ministry of Finance will auction treasury bills and bonds at a total value of LE 22 billion ($1.2 billion) in November, in efforts to finance the budget deficit.

In a statement released Wednesday, the ministry said that the 91-day and 182-day T-bills are worth LE 27.5 billion each.

The Finance Ministry will also auction 273-day and 364-day T-bills which are worth EGP 28.75 billion each.

Meanwhile, the ministry said it would auction three-year bonds, maturing in October 2020, at the value of LE 3 billion and five-year bonds, maturing in October 2022, at the value of LE 2.5 billion.

The ministry will also issue seven-year bonds (maturing in December 2024) at LE 2 billion and 10-year bonds (maturing in May 2027) at LE 2 billion.

For the current fiscal year, the budget deficit is estimated to record LE 370 billion, planned by the ministry to be financed through treasury bills and bonds and through international and Arab loans.