Cairo – Mubasher: Egypt’s Ministry of Finance said it cancelled the issuing of debt instruments worth EGP 51 billion.
The ministry of finance also said, it will issue EGP 273.6 billion debt instruments by the second quarter of the fiscal year 2016/17.
Egypt’s government resorts to internal borrowing through issuing bonds and treasury bills in order to cover the state budget deficit, which exceeded more than 12.2% of the country’s gross domestic product in FY 15/16.
