Pre-Trading Thoughts

Egypt’s trade deficit increased by 10.3% to reach USD3.24 billion in September compared to USD2.84 billion in the same month last year. The government is looking to wrap up the Wataniya stake sale within a month or two maximum, Planning Minister Hala El Said said. The government raised the estimated subsidies for petroleum products in FY 2023/2024 by about 9% to EGP130 billion, due to new higher oil price assumptions. The head of the General Authority for the Suez Canal Economic Zone said tha...