Pre-Trading Thoughts

The IMF lowered its forecast for Egypt's real GDP growth to 3.6% in 2024, down from the 4.1%. Expectations for inflation in 2023 were decreased to 23.5% down from 24.4%, while increasing to 32.2% up from 32% in 2024. Annual urban inflation climbed from 37.4% in August to 38% in September. On a monthly basis, urban inflation accelerated from 1.6% in August to 2% in September. Core Inflation, which excludes highly volatile items, decelerated to 39.7% in September, from 40.4% in August, h...