Figures obtained by Daily News Egypt indicate that the government intends to expand the borrowing from the local debt market to bridge the chronic deficit in the state budget significantly during the first quarter (Q1) of the fiscal year (FY) 2019/20.
According to those figures, the ministry of finance intends to offer treasury bills (T-Bills) and treasury bonds (T-Bonds) worth EGP 522bn during the period from July 1 to the end of September. This is the largest rate of borrowing through debt instruments since the launch of these tools on the market.
The state budget deficit is expected to reach EGP …read more
Source: Daily News Egypt