CBE auctions 5 billion EGP in long-term treasury bonds
The Central Bank of Egypt (CBE) - YOUM7/Amr Mostafa
By AHMED SHADY

CAIRO: The Central Bank of Egypt will auction 5 billion EGP ($718 million) in long-term treasury bonds on Monday on behalf of the Ministry of Finance, according to a statement on its website Sunday.

The long-term treasury bonds are scheduled to be offered in three installments, the first valued at 2 billion EGP ($290 million) with a two-year term, the second valued at 2 billion EGP ($287 million) with a five-year term, and the last valued at 1 billion EGP ($143 million) with a 10-year term, according to the statement.

Egypt’s budget deficit is expected to reach 240 billion EGP by the end of current fiscal year, according to the statement.

The budget deficit is currently being funded by CBE treasury bills and bonds, aid from Gulf countries and international loans, the statement said.

Recommend to friends

Leave a comment