Cairo – Mubasher: Egypt’s central bank said it will issue on Monday treasury bonds worth EGP6 billion on behalf of the Ministry of Finance to fund budget deficit.
The T-bonds will be offered through three auctions: a year-and-half auction at a value of EGP1 billion, a three-year auction at a value of EGP3.250 billion, and finally a seven-year auction at a value of EGP 1.750 billion.
Previously, the ministry stated that the country’s budget deficits during the period from July to November widened to EGP138.5 billion or 4.9% of GDP, compared to EGP107.9 billion or 4.4% in the same period a year earlier.
