Pre-Trading Thoughts

The new social protection package will be announced “within days,” Prime Minister said. The package of minimum wage hikes and pension increases will come into effect starting the next fiscal year. Net foreign reserves inched up to USD47.3 billion at the end of January 2025, marking a USD156 million increase from December. Net foreign assets in Egypt’s banking sector reached USD5.23 billion in December, down 12.2% from USD5.96 billion in November. The decline was driven by a widening def...