CBE offers t-bonds worth 1.75 bln Egyptian pounds today

Egypt’s central bank is issuing Monday treasury bonds totalling 1.75 billion Egyptian pounds ($197.1 million), to fill the country’s budget deficit.

The central bank said it would raise two treasury bonds; the first is worth 1.25 billion pounds, to mature in 3 years. The second is at value of 500 million pounds, to mature in 7 years.

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