Cairo – Mubasher: The Central Bank of Egypt would issue Monday treasury bonds worth EGP 1 billion in coordination with the Ministry of Finance (MoF) to fund the country's budget deficit.
The EGP 1 billion will be auctioned through two tranches: five-year bonds at EGP 750 million and ten-year bonds at EGP 250 million.
Egypt's budget deficit is estimated to reach EGP 319.46 billion by the end of the fiscal year 2016/17.
In September 2016, the government plans to issue EGP 99.25 billion, compared with EGP 99.75 billion for the year-ago period.
