Pre-Trading Thoughts

The government is allocating EGP596 billion for subsidies and social support in the next fiscal year. And expects to record a budget deficit of 6% and a primary surplus of 3.5%. The Saudi government approved a MoU between its Finance Ministry and Egyptian counterparts to establish a high-level financial dialogue. According to the Minister of Finance, foreign cash inflows are expected to exceed USD20 billion, after the agreement with the IMF. According to the Ministe...