Pre-Trading Thoughts

The government will raise USD2 billion from its asset sale program within the next 1-2 months, through ETEL exiting its entire stake in Vodafone Egypt, or from the sale of the Beni Suef power station. The House of Representatives yesterday gave its final approval to the FY 2023-2024 fiscal budget, with an expected deficit of EGP849 billion (7% of GDP). Prime Minister discussed potential incentives to help boost localization across various industries with representatives of the Federatio...