The Egyptian Ministry of Finance sold 182- and 364-day T-bills worth EGP 6.5 billion on Thursday. The Ministry revealed that it sold 182-day T-bills and 364-day T-bills worth EGP 2.5 billion and EGP 4 billion, respectively. The yields on 182-day T-bills ranged from 13.500% to 13.571%, while the average return registered 13.556%. The yields on 364-day T-bills ranged from 13.75% to 14.120%, while the average return registered 14.072%. The Ministry's revenues from treasury bills and bonds reached EGP 12.5 billion in the first week of February. Yields on t-bills are relatively stable as they swing between 12.914% and 15.184%. The average returns on 91-, 182-, 266-, and 364-day T-bills registered 12.914%, 13.556%, 13.972% and 14.072%, respectively. The average returns on 5-year T-bonds and 7-year T-bonds registered EGP 14.79% and 15.184%, respectively. The Ministry of Finance sells treasury bills and bonds to finance the widening budget deficit which reached EGP 91 billion in the first half of FY 2012/2013 and it is expected to reach EGP 200 billion at the end of the current fiscal year.
