Pre-Trading Thoughts

Economic and Social Development Plans for FY2022-23 target an economic growth rate of 5.5% and estimated investments about EGP1.4 trillion, compared to EGP1.2 trillion estimated for FY2021-22, with GDP at current prices targeted at EGP9.22 trillion. Russia and Ukraine signed a landmark agreement to resume grain exports through the Black Sea. The European Central Bank raised interest rates by a larger-than-expected half-percentage point. A meeting will be held for the joint committee bet...