CBE auctions LE 13.5B in T-bills Thursday

CAIRO – 27 July 2017: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is scheduled to auction LE 13.5 billion ($750 million) in treasury 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; the first valued at LE 6.5 billion with a 182-day term, and the second is worth LE 7 billion with a 357-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 Central Bank, and through Arab and foreign loans and grants.