C.bank launches t-bonds worth 1 billion Egyptian pounds

Egypt’s central bank will be offering Monday treasury bonds totalling 1 billion Egyptian pounds ($112.6 million), to fill the country’s budget deficit.

The central bank said it would raise two treasury bonds; the first is worth 750 pounds, to mature in 5 years. The second is at value of 250 million pounds, to mature in 10 years.

Ministry of Finance has estimated the country’s budget deficit at 319.46 billion pounds for the financial year 2016-2017.