Pre-Trading Thoughts

Suez Canal revenues increased by 12.8% YoY during 2021, reaching a record USD6.3 billion. Export revenues grew to record levels as well, amounting to USD31 billion in 2021. The government intends to build 60 wheat silos in partnership with the private sector, each with a capacity of 60,000 tons. The budget's overall deficit increased to EGP266.95 billion, about 3.7% of GDP during 5MFY2021/22, compared to 3.2% in the corresponding period of the last fiscal year. The Ministry of Tourism a...