[ad_1]
The Central Bank of Egypt (CBE) on Monday launched government bonds of a total of 3 billion pounds on behalf of the Ministry of Finance, the central bank announced that the value of the first issue of Treasury bonds is £ 1.25 billion. And the value of the second bid is about 1.75 billion pounds for 10 years
The Central Bank issues treasury bills and bonds to fill the state's budget deficit, currently estimated at 485 billion pounds, 9.8%. 2018/2019, which will come into effect on July 1, 2018.
A press release from the central bank said that On the 2018/2019 state budget, aims to achieve an initial surplus of 2% of the GDP, putting the government's debt on a downward trajectory.
The Central Bank confirmed that the government continues to implement structural reforms; The growing potential of the Egyptian population, including export development, promotion and facilitation of international trade, improvement of the industrial land allocation system, strengthening of the public procurement system, the Improved transparency and accountability of public enterprises. A Central, that these reforms will help attract more private sector investment, which is needed to increase growth and make it more fit for the mbades of segments of the population, and strengthen the social safety net at first priority of the Egyptian authorities, which has significant support from the International Monetary Fund.
[ad_2]
Source link
