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Egypt's CBE auctions LE 2.2 bn bonds

The Central Bank of Egypt issued on Monday 5- and 10-year treasury bonds at LE 2.2 billion.

The 5-year T-bond stands at LE 1.2 billion, while the rest goes to the 10-year T-bond.

The CBE auctioned the T-bonds on behalf of the Finance Ministry.

The state budget deficit is expected to reach LE 370 billion.

The CBE will issue treasury bills and bonds to make up for the deficit.

Also, Arab grants and aids alongside international loans contribute to covering this deficit.

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