Pre-Trading Thoughts

The government has begun paying back nearly 20% of the arrears it owes to international oil companies (IOCs) operating in the country, with a structured plan now in place to clear the remaining debt in stages over the coming period. The Emirati company, Dana Gas, revealed that it received USD58 million in dues from Egypt during 2023. The company added they still have arrears of USD75 million. Egypt targets a GDP growth rate of 4% in FY 2024/25, with a primary surplus of 3.5% and reducing th...