Pre-Trading Thoughts

Net foreign assets of the CBE increased by USD1.17 billion in November to record USD11.8 billion, compared to USD10.64 billion in October. Egypt has trimmed its fuel consumption 6% to 171 grams per kWh over the past few months. The reduction in demand is saving the country some EGP1.2 bn monthly. The Ministry of Finance aims to reduce the external debt of the budget agencies by about USD1 billion during the remainder of the current fiscal year, to record USD77 billion dollars by the end of th...