The Egyptian Ministry of Finance sold 91- and 273-day T-bills worth EGP 5.5 billion on Sunday. The yields on 91-day T-bills ranged from %12.499 to 12.909%, while the average return registered 12.872%. The yields on 273-day T-bills ranged from 13.851% to 14.010%, while the average return registered 13.974%. The 91-day T-bills and 273-day T-bills are worth EGP 1.5 billion and EGP 4 billion, respectively. Today's auction raises the value of the state's revenues from treasury bills and bonds to EGP 18 billion since the start of February. The returns are relatively stable 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 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 is expected to reach EGP 200 billion by the end of the current fiscal year.
