Pre-Trading Thoughts

Egypt's unemployment rate hit 6.9% in 4Q2023, down from 7.1% in the 3Q2023 and 7.2% in the corresponding quarter of 2022. Outstanding balance of foreign investors in Egyptian T-bills increased by about USD400 million in November to USD12.6 billion compared to USD12.2 billion in October. Arab countries' debt to Egypt rose to USD48.4 billion at the end of last September, compared to USD46.2 billion at the end of last June. Egypt has repaid about USD8.2 billion of debt during 1Q2023-24. Th...