Government borrows LE 14B in T-bills Thursday

CAIRO – 28 December 2017: The Central Bank of Egypt, on the behalf of the Ministry of Finance, is scheduled to issue LE 14 billion ($790 million) in treasury bills (T-bills) Thursday.

The T-bills are to be offered in two installments, the first valued at LE 6.5 billion at 182-day term, while the second is valued at LE 7.5 billion at 357-day term.

T-bills are usually issued every Sunday and Thursday.

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.