Pre-Trading Thoughts

The CBE has released the Balance of Payment (BoP)'s performance report for FY2023/24. Key points are: The overall BoP recorded a surplus of c.USD9.7 bn during FY 2023/24.Egypt's current account deficit more than quadrupled, surging to USD 20.8 bn.The oil trade balance surged to USD8 bn deficit in FY2023/24, compared to a USD 410 mn surplus in FY2022/23.The non-oil trade deficit was flat, registering USD31.9 bn in FY2023/24.Suez Canal lost a quarter of its previous year revenues, triggered by ...