|Egypt Plans to Sell $1.7 Billion of Bills This Week|
|Written by Egypt News|
|Sunday, 20 February 2011|
Egypt, reeling under labor strikes and bank disruptions after a resignation of President Hosni Mubarak, plans to sell 10 billion Egyptian pounds
($1.7 billion) of treasury bills this week
The Ministry of Finance will offer 1 billion pounds of 91- day bills and 3.5 billion pounds of 273-day notes at an auction today, according to data posted on its website.
The ministry will also auction 2 billion pounds of 182-day securities and 3.5 billion pounds of 364-day bills on Feb. 21, it said.
Egypt’s Finance Minister Samir Radwan said on Feb. 14 the budget deficit will widen to about 8.4 percent of gross domestic product in the current fiscal year ending June from 8.1 percent as spending increases and economic growth slows after Mubarak’s fall.
The military council said that it won’t allow strikes to continue because of their impact on the economy, state-run television reported on Feb. 18.
» No Comments
There are no comments up to now.
» Post Comment
|< Prev||Next >|