Cairo – Mubasher: The Central Bank of Egypt would issue EGP 3.5 billion treasury bonds on Monday in coordination with the Ministry of Finance to fund budget’s deficit.
The EGP 3.5 billion will be offered through two auctions: three-year bonds worth EGP 2.75 billion and seven-year bonds at EGP 750 million.
Egypt’s budget deficit widened 19% year-over-year to EGP 311 billion, or 11.2% of gross domestic product during July-May 2015/16.
The government earlier announced planning to issue treasury bills and bonds worth EGP 121.25 billion ($13.63 billion) during August.
