Pre-Trading Thoughts

The Prime Minister announced the approval of new 11% subsidized loans for industry and agriculture. Current backlog of imported goods at ports stands at some USD5.3 billion, of which USD 3 billion is pending documents from importers rather than hard currency to be released. Egypt’s total exports grew by 20% YoY in 2022 to register USD53.8 billion, while non-oil imports remained unchanged at around USD80 billion. Planning Minister expects that Egypt could raise some USD2-2.5 billion through st...