Cairo – Mubasher: The Egyptian government would issue EGP 121.25 billion ($13.63 billion) in treasury bills and bonds during August, higher 45.6% year-over-year from EGP 83.25 billion ($9.36 billion), according to data by the Ministry of Finance.

Maturities 91-day, 182-day, 273-day, 364-day treasury bills will be issued at EGP 23.75 billion, EGP 23.75 billion, EGP 25.5 billion, and EGP 27.5 billion, respectively, according to the ministry's press release.

Meanwhile, treasury bonds maturing after three, five, seven, and ten years will be auctioned at EGP 6.5 billon, EGP 7.5 billion, EGP 1.75 billion, and EGP 1.5 billion, correspondingly.

The government uses debt instruments to fund budget deficit that widened during July-May 2015/16 by 19% year-over-year to EGP 311 billion (or 11.2% of gross domestic product).

Egypt's internal debt rose to EGP 2.49 trillion by the end of March 2016.