CBE launches treasury bonds worth 11.5 bln Egyptian pounds today

Egypt’s central bank is offering Thursday, in coordination with Ministry of Finance, treasury bonds totalling 11.5 billion Egyptian pounds ($1.3 billion), aimed to fill the country’s budget deficit.

The central bank said it would raise two treasury bonds; the first is worth 5.5 billion pounds, to mature in 182 days. The second is at value of 6 billion pounds, to mature in 357 days.

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