The government is borrowing 15.7 billion pounds from banks today

On Sunday, the Central Bank of Egypt (CBE) will issue a total of LE 15.7 billion in treasury bills on behalf of the Ministry of Finance. The first issue of 91-day Treasury bills will be LE 7.7 billion and LE 8 billion for 273 days.

The budget deficit is expected to reach LE 370 billion by the end of the current fiscal year, financed by the Central Bank’s issuing of treasury bills and bonds, government debt instruments on behalf of the Ministry of Finance, and through aid and grants from Arab countries and international loans.

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