The Central Bank of Egypt on Monday issued treasury bonds worth LE14.5 billion, in coordination with Finance Ministry, to finance the budget deficit. The government borrows through treasury bonds and bills over different periods of time, and government banks are the largest purchasers of it. Treasury bonds are long-term debt instruments, with maturities ranging from more than one year to 15 years. The returns of the Central Bank of Egypt, from loans and balances with banks, in addition to the proceeds of treasury bills and bonds rose to LE 145.387 billion during the fiscal year ending on June 30, 2019, compared to LE 118,875 billion on June 30, 2018 – an increase of LE 26.512 billion. The return on treasury bills and bonds increased to LE 126.6 billion compared to LE 107.2 billion, an increase of LE19.4 billion during the same period.
