1000 pound plastic coin.. The fact that it put on the market
Shrouq
A state of controversy prevailed on the social networking site Facebook, during the past few hours, after circulating a picture of a 1000 Egyptian pound plastic coin, claiming that it will be put on the market during the coming period.
An informed source at the Central Bank of Egypt denied issuing a new 1,000-pound banknote, or starting printing it during the coming period.
20-pound plastic coin
The source informed that The Central Bank did not intend to introduce any new currencies during the coming period, except for the 20-pound plastic coin, which is scheduled to be put on the market with the advent of Eid al-Adha.
The source added that the Central Bank of Egypt determined the design of the new 20-pound plastic currency, and started printing it during the previous period, so that it will be offered in the local markets in the coming period.
20-pound plastic
He stressed that the details of choosing the design of the new 20-pound plastic bill will be announced, in addition to the date of its launch at a later time by the governor of the Central Bank.
The Central Bank of Egypt printed about 2 billion pounds of the new 10-pound currency during the previous year, and put it on the market with the advent of Eid al-Adha.
The Central Bank also made modifications to ATMs spread across the country so that they can accept withdrawals and deposits of the new plastic currency.
Government treasury
The Central Bank will offer government treasury bills on behalf of the Ministry of Finance, at a value of 40 billion pounds, to bridge the budget deficit estimated at 558.2 billion pounds. During the current fiscal year, it urgently manages the needs of economic agencies and ministries.
The offering, which will be in two terms, is the issuance of treasury bills worth EGP 22.5 billion for a period of 3 months, due on August 15, 2023, while treasury bills worth EGP 17.5 billion will be offered for a period of 9 months, due on February 13, 2024.
The government targets a budget deficit during the fiscal year 2023-2024 at a value of 824 billion pounds, an increase of 7% over the last fiscal year, 2022-2023, in which the budget deficit target amounted to 558.2 billion pounds.
