The Central Bank of Egypt (CBE) will issue on Monday treasury bonds worth EGP 600 million, in coordination with the Ministry of Finance (MoF), to support the country’s budget deficit.
The treasury bonds will be issued through two tranches; 5-year bonds at EGP 350 million, and 10-year bonds worth EGP 250 million, according to the CBE’s website.
The Egyptian finance ministry estimates the total budget deficit for fiscal year 2016/2017 at around EGP 319 billion compared to an actual deficit of EGP 339 billion in the year before.
