Pre-Trading Thoughts

The IMF has maintained its projection for Egypt’s real GDP growth in FY2023/24 at 3%, and to rebound to 4.4 percent in FY2024/25. Interest payments in the state budget FY2024/25 are estimated at EGP1.8 trillion, about 70% of the total revenues of EGP2.63 trillion, due to higher estimation of average interest payment on treasuries, at 25%, compared to 18.5% in FY2023/24. The government is looking to restart a number of stalled state projects building social housing, waste management faciliti...