Pre-Trading Thoughts

Budget deficit increased to 6.26% of GDP in the first 11 months of FY22/23 to record EGP615.2 billion, compared to 5.50% of GDP in the same period last year. GAFI has approved GV Investments’ ambitious 26k-feddan Tarboul industrial project in Giza. The project will require EGP500 billion (USD16.2 billion) of investments. The leaders of Brazil, Russia, India, China and South Africa are reportedly close to an agreement about inviting new member countries to join the BRICS. Companies have ...