Government to issue EGP 2.175trn in local debt instruments in Q4 of FY25

The Egyptian government plans to issue EGP 2.175 trillion in local debt instruments during the fourth quarter of fiscal year 2024/2025 to refinance maturing debt and finance the state budget deficit.

According to the Ministry of Finance’s published plan, this includes 52 treasury bill (T-bill) offerings valued at EGP 1.905 trillion and 40 bond auctions worth EGP 270 billion, scheduled between April and the end of June.

The Central Bank of Egypt (CBE), acting on behalf of the government, intends to offer T-bills and bonds worth EGP 765 billion in April, EGP 682 billion in May, and EGP 728 billion in June.

Breaking down the T-bill issuance, the government plans to offer EGP 420bn in 91-day bills, EGP 460bn in 182-day bills, EGP 470bn in 273-day bills, and EGP 555bn in 364-day bills.

On the bond side, the offerings will include EGP 53 billion in two-year bonds, EGP 141 billion in three-year fixed-rate bonds, EGP 51 billion in three-year floating-rate bonds, EGP 16 billion in five-year fixed-rate bonds, and EGP 9 billion in five-year floating-rate bonds.