CAIRO – 26 June 2022: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is set to issue LE 24 billion in treasury bills (T-bills) on Sunday, June 26.
The T-bills were offered in two installments, with the first valued at LE 14 billion with a 91-day term, and the second worth LE 10 billion with a 273-day term.
For the current fiscal year, the budget deficit is estimated to record 5.7 percent of gross domestic product (GDP) in light of the Russian-Ukrainian crisis, planned by the ministry to be financed through treasury bills and bonds and through international and Arab loans.
The Monetary Policy Committee (MPC) decided in June to keep the Central Bank of Egypt’s (CBE) overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at11.25 percent, 12.25 percent, and 11.75 percent, respectively. The discount rate also remained at 11.75 percent.