Pre-Trading Thoughts

The global economy may be headed for years of stagflation, the World Bank warned, slashing its 2022 global growth forecast to 2.9% from January’s 4.1%. The World Bank raised its forecast for Egypt's economic growth for the current year to 6.1%, up from 5.9% in its previous forecast, while growth in 2022/23 was revised down by 0.7 ppt to record 4.8%. Prime Minister is reviewing a draft strategy for the development of Egyptian tourism sector, which was prepared by a global advisory firm. ...