Pre-Trading Thoughts

The World Bank sees the Egyptian economy growing at a 3.8% y/y clip during the fiscal year 2024-2025, raising its outlook 0.3 percentage points from its 3.5% forecast in October. The Finance Ministry is considering exempting imported auto parts used in manufacturing from the 3% state development fee, to instead collect the fees upon commercial sales and during license renewals, following a proposal from car manufacturers, a government source said. Egypt’s unemployment rate dropped to 6.6% of ...