Cairo – Mubasher: The Central Bank of Egypt would auction on Monday EGP 3 billion in treasury bonds on behalf of the finance ministry, according to the bank’s official website.

The EGP 3 billion will be released through two auctions: EGP 2.5 billion and EGP 500 million bonds maturing for five and ten years respectively.  

The government estimated the country’s budget deficit for the fiscal year 2016/17 at EGP 319.46 billion.

Yesterday, the Ministry of Finance reported higher yields on three-month and nine-month treasury bills at the first auction after the International Monetary Fund initially agreed in principal to grant Egypt a $12 billion three-year loan.