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27 August 12:00 AM

Egypt's finance ministry auctions LE 16.750 bn T-bills

The Egyptian Ministry of Finance auctioned on Wednesday 182- and 357-day treasury bills at LE 16.750 billion.

The 182-day T-bills stood at LE 8.250 billion with an average yield of 19.555%, the ministry said on its website.

The 357-day T-bills valued LE 8.5 billion at an average yield of 19.113%.

The ministry auctioned the T-bills on Monday in lieu of next Sunday which will be a vacation marking the anniversary of the June 30.

The ministry issues treasury bills and bonds to make up for the budget deficit which is expected to reach LE 370 billion.

Also, Arab grants and aids alongside international loans contribute to covering this deficit.

 

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