Pre-Trading Thoughts

The Prime Minister approved a new EGP120 billion program of subsidized loans for manufacturers in freezones as well as agriculture and renewable energy companies. The European Union is looking to deliver the first tranche, EUR1 billion, of the bloc’s pledged EUR5 billion of concessional loans as part of its EUR7.4 billion package to Egypt before next summer. Merchandise circulation in the ports returned to normal levels after periods of accumulation and decreased to USD1.8 billion. The EU-Egy...