Cairo – Mubasher: The Central Bank of Egypt will hold a public auction Monday to sell treasury bonds worth EGP 7.250 billion to finance the budget deficit.
1.5- and 3-year T-bonds will be issued at EGP 2 billion and EGP 3 billion respectively, while 7-year bonds will be offered at EGP 2.250 billion.
The country’s budget deficit amounted to around EGP 78.3 billion, or 2.8% of gross domestic product, in the first quarter of the fiscal year 2015/2016, compared with EGP 65.8 billion or 2.7% of GDP in the prior-year period.
