Pre-Trading Thoughts

Fitch has cut Egypt’s GDP growth forecast for FY2022/23 to 4.4% from a prior projection of 5.5%. While discussing FY2022/23 budget, Parliament voiced their concerns that the government should rein in its borrowing plans and put a cap on the country’s debt levels. The Suez Canal Economic Zone is working with DP World on a logistics area, that will be followed by an industrial zone soon, according to the head of the Canal Economic Zone. EAST's BoD will meet by the end of the month to revise sel...