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The Finance Ministry revealed its intention to borrow EGP 389.25bn through treasury bills and bonds during the period from 1 October until the end of December
The finance ministry sold new bonds on international markets worth $3bn
German Finance Minister Wolfgang Schäuble is confident that Europe’s powerhouse can fare without fresh borrowing up to 2020. Higher labor market spending is to be offset by steadily rising tax revenue.
The bank’s revenues for the fourth quarter rose by 15% to EGP 1.74bn.
The bad news for America’s worried friends is that new stalemates over budgets and borrowing are looming early next year.
By Islam Serour The Ministry of Finance announced Saturday an issue of treasury bills and bonds with a total value of EGP 135.228 billion, which was auctioned by the Central Bank of Egypt (CBE) between April and June, in the final quarter of the 2011-2012 financial year. According to the statement by the Ministry, the …