Pre-Trading Thoughts

Remittances from Egyptians abroad rose 65.9% y/y in June, recording USD2.6 billion. On a monthly basis, remittances were down 3.7%. The government sees the economy growing at a 5.5% clip during the fiscal year 2026-27 and 6.5% in 2030, according to a cabinet statement. The Madbouly government sees the economy growing 4.2% during the current fiscal year. The government has reportedly wrapped up studies for two pumped storage hydropower projects in Luxor and Qena with a combined capacity of 2 G...