Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Sunday, in coordination with the Ministry of Finance (MoF), treasury bills worth EGP 11 billion to support the country's budget deficit.

The treasury bills will be issued through two tranches, 91-day bills at EGP 5.5 billion and 273-day bills worth another EGP 5.5 billion, according to the central bank’s website.

The Egyptian finance ministry says the total budget deficit for the fiscal year 2015-2016 is around EGP 319.46 billion.

Egypt's local debt reached EGP 2.49 trillion by March 2016, while external debt stood at $53.4 billion by the third quarter of FY2015-16, according to the Central Bank of Egypt’s (CBE) database.