Cairo – Mubasher: Returns on the Egyptian government’s treasury bonds increased in Monday’s auction, according to date released by the Centeral Bank of Egypt (CBE).
The return on the 3-year bonds increased to 17.037% compared to 16.982% in the last auction.
Similarly, the return on the 7-year bonds also reached 17.419% up from 17.393% in the auction on 3 October.
On 22 September, Egypt's Central Bank (CBE) maintained the interest rates steady, contrary to analysts’ expectations.
Earlier, the MoF stated that Egypt’s budget deficit increased to EGP 191.6 billion in the fiscal year 2015-2016, representing 6.8% of the gross domestic product (GDP) and is estimated to reach EGP 319.46 billion in FY16/17.
Egypt's local debt reached EGP 2.49 trillion by March 2016, while external debt stood at $53.4 billion by the third quarter of FY2015-16, according to the Central Bank of Egypt’s (CBE) database.
