Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Monday treasury bonds worth EGP 1.25 billion, in coordination with the Ministry of Finance (MoF) to finance the country’s budget deficit.
The bonds will be issued through two tranches; 3-year bonds worth EGP 750 million, and 7-year bonds worth EGP 500 million, according to the CBE’s website.
The Egyptian finance ministry estimates the total budget deficit for fiscal year 2016/2017 to reach EGP 319.46 billion, compared to an actual deficit of EGP 339 billion in the year before.
