Pre-Trading Thoughts

World Bank revised its Egypt economic growth forecast during FY22/23 to 4.0%, down from 4.8% previously. The World Bank is now expecting the MENA region to grow at a 3.0% clip during 2023, down 0.5% from its previous forecast. Egypt's trade deficit fell 47% YoY in January to USD2.48 billion. Exports fell 7% YoY to USD3.85 billion, while imports decreased 28% to USD6.33 billion. The expat car import scheme has brought in USD385 million since its launch in November. The SFE is studying offering...