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Finance Ministry Raises EGP 6.5 Bln In 182-, 357-Day T-Bills
Moustafa Adel Published in Amwal Al Ghad on 09 - 05 - 2013

The Egyptian Ministry of Finance has sold 182- and 357-day treasury bills worth EGP 6.5 billion on Thursday. The Ministry raised EGP 2.5 billion from 182-day T-bills and EGP 4 billion from 357-day T-bills.
The yields on 182-day T-bills ranged from 13.749% to 14.699%, while the average return registered 14.498%. The yields on 357-day T-bills ranged from 13.750% to 14.910%, while the average return registered 14.739%.
The Finance Ministry sold EGP 524.8 billion worth of government debt instruments (treasury bills and bonds) from July to April of FY 2012-2013, compared to EGP 481.16 billion in the corresponding period in FY 2011/2012. The total value of the offered treasury bills and bonds reached EGP 169 in Q1 of the current fiscal year, EGP 138 billion in Q2 and EGP 149 billion in Q3, as well as the Ministry raised EGP 68.8 billion in treasury bills and bonds last April.
The Ministry sells government debt instruments so as to finance the burgeoning budget deceit which widened to EGP 175.9 billion from July 2012 to March 2013, registering 10.1% of the country's GDP and is expected to reach EGP 200 billion by the end of the current fiscal year.

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