Cairo – Mubasher: The Central Bank of Egypt (CBE) would issue EGP 10.25 billion in treasury bills on Sunday to fund budget deficit in coordination with the Ministry of Finance (MoF).

The EGP 10.25 billion will be offered through two auctions: a 91-day auction at a value of EGP4.75 billion and a 273-day auction at a value of EGP 5.5 billion, according to the ministry's statement.

Egypt's budget deficit reached EGP 311 billion, representing 11.2% of growth domestic product, in July-May of year 2015/16, rising 19% from the same period in the previous year.

CBE would issue treasury bills and bonds at a value of EGP 121.25 billion ($13.63 billion) in August.