Central Bank of Egypt to issue EGP 130 bln T-bills this week

Last week, the bank auctioned EGP 130 billion T-bills with four different maturities and accepted EGP 135.59 billion in bids at an average yield of 26.83 percent. 

Treasury bills are short-term zero-coupon securities issued at a discount and redeemed at face value at maturity.

The CBE issues T-bills on behalf of the Ministry of Finance to fund the budget deficit.

Egypt's budget deficit accounted for six percent of its GDP in FY2022/2023. According to the latest data released by the CBE, Egypt's gross domestic debt reached EGP 4.74 trillion ($153.3 billion) in June 2020.