CBE launches treasury bonds worth 2 billion Egyptian pounds today

Egypt’s central bank is offering Monday, in coordination with the Ministry of Finance, treasury bonds worth 2 billion Egyptian pounds ($225.1 million), in an attempt to fill the country’s budget deficit.

The central bank said it would raise two treasury bonds; the first is worth 1.5 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 total budget deficit at 319.46 billion pounds for the financial year 2016-2017.