Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Sunday treasury bills worth EGP 14 billion, in coordination with the Ministry of Finance (MoF) to support the country’s budget deficit.

The treasury bills will be issued through two tranches, 91-day bills at EGP 6.75 billion, and 273-day bills worth EGP 7.25 billion, according to the CBE’s website.

The Egyptian finance ministry estimates the total budget deficit for fiscal year 2016-2017 at around EGP 319 billion compared to an actual deficit of EGP 339 billion in the previous year.

The MoF has issued debt instruments worth EGP 371 billion during the first quarter of fiscal year 2017/2018, the highest level since 2005.