Cairo – Mubasher: The Central Bank of Egypt (CBE) would issue EGP 1.75 treasury bonds Monday on behalf of the Ministry of Finance to fund the country's budget deficit.

The EGP 1.75 billion will be issued through two tranches: five-year bonds worth EGP 1.25 billion and ten-year bonds at EGP 500 million.

Egypt's budget deficit is estimated to reach EGP 319.46 billion in the fiscal year 2016/17.

Earlier, the government announced issuing EGP 324.5 billion treasury bonds and share during the second quarter of 2016/17, higher 15.3% than the year-ago period.