Pre-Trading Thoughts

Prime Minister said that a subsidized bread loaf will be sold at 20 piastres, up from 5 piastres starting in June. The government is currently looking into replacing subsidies with cash support, a move which will allow citizens to use the support according to their needs. The government will hike electricity prices in July with the beginning of the new fiscal year. On average, the hikes will exceed 20%, but not yet determined. The EU and Egypt are expected to sign an EUR35 million financing a...