Cairo – Mubasher: The Central Bank of Egypt (CBE) on Monday offered treasury bonds (T-bonds) worth EGP 7.5 billion, in coordination with the Ministry of Finance (MoF) to finance the budget deficit.

The first tranche is five-year T-bonds that amounts to EGP 4 billion, while the second tranche is for 10.5 years and valued at EGP 3.5 billion, according to data by the CBK.

State-run banks are the top holders of the government's debt instruments.

By the end of June 2019, Egypt succeeded to cut its debt-to-GDP ratio to 90.5% when compared to 98% in the same month in 2018.