Pre-Trading Thoughts

The government plans to launch a new export subsidy program by the end of August or the beginning of September. Non-petroleum exports decreased by 17% to record USD16 billion during the first half of the current year, compared to USD19.3 billion in the previous year. Petroleum exports declined by 53%to USD3.7 billion in 5M2023, compared to USD7.9 billion in the same period of 2022. The Ministry of Electricity targets increasing electricity production from EGP472 billion in the current fisc...