Pre-Trading Thoughts

Egypt's net international reserves rose to USD46.4 billion at the end of June, surpassing the previous record high of USD46.1 billion posted a month earlier. Non-oil trade deficit declined by 22.9% during 1Q24 to record about USD6.4 billion. The African Development Bank estimates Phase 3 of the water waste treatment plant in Al-Jabal Al-Asfar at about EUR510 million that will be financed by the bank, the French Development Agency, and the European Commission. Egypt is looking to attract new T...