(MENAFN) The Central Bank of Egypt will issue treasury bills worth EGP14bn, in co-op with the Ministry of Finance in order to support the nation's budget deficit.
Meanwhile, the treasury bills will be issued amid two tranches, 91-day bills at EGP6.75bn and 273-day bills worth EGP7.25bn.
Furthermore, the Egyptian finance ministry predicts the whole budget deficit for fiscal years 2016/2017 at almost EGP319bn compared to EGP339bn in the previous year.
The Ministry of Finance (MOF) has issued debt instruments worth EGP371bn amid the Jan-March period of 2017/2018, the highest level since 2005.
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