Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Monday, in coordination with the Ministry of Finance (MoF), treasury bonds worth EGP 1 billion to support the country's budget deficit.
The treasury bonds will be issued through two tranches, 5-year bonds at EGP 500 million and 10-year bonds worth another EGP 500 million, according to the central bank’s website.
Treasury bills and bonds issued by the Egyptian government increased by 10% in 2016 to EGP 1.136 trillion compared to EGP 1.022 trillion in 2015.
The Egyptian finance ministry expects the total budget deficit for the fiscal year 2016-2017 to reach EGP 319.46 billion.
