Pre-Trading Thoughts

The overall budget deficit rose during the first two months of FY2023/24 to 3.2% of GDP, compared to 1.4% for the same period of the last fiscal year, under pressure from increased expenditures, especially interest on government debt. Afreximbank has agreed to extend USD3 billion of credit facilities to Egyptian companies. Emirati state-owned port operator DP World will break ground on its USD80 million logistics zone at Ain Sokhna Port this month. CBE raised USD1.61 billion in a t-bill...