Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue EGP 1.5 billion in treasury bills on Monday in coordination with the Ministry of Finance (MoF) to finance the budget deficit.
The issue is divided into two tranches; the first worth EGP 750 million will mature within five years, while the second also worth EGP 750 million will mature after ten years, the CBE said.
The MoF estimated the budget deficit for fiscal year 2016/2017 at EGP 319.46 billion compared to EGP 339 billion in the previous year.
