Pre-Trading Thoughts

Prime Minister has issued a number of regulations for state bodies to rationalize public expenditure amid the ongoing global economic crisis. Any new national projects that require significant FX expenditure, and where construction has yet to begin, will be delayed, according to the decision. Any FX spending at all by the ministries in question and their authorities will also require the Finance Ministry’s approval. The regulations do not, however, apply to a number of state bodies, including...