Pre-Trading Thoughts

Egypt’s net foreign reserves inched up to USD34.45 billion in March from USD34.35 billion in February. Suez Canal revenues jumped 39% y-o-y in March 2023 to an all-time monthly high of USD832.2 million. The government is studying the possibility of including EXPA in the government privatization program. Cabinet approved new minimum wage tiers for public-sector workers effective 1 April 2023. An American and a Russian firm intend to submit bids to build small nuclear reactors in Egypt. We rais...