Pre-Trading Thoughts

S&P expects core inflation in Egypt to reach its peak at 39% in October 2023 before retreating to 35% by the end of the year. It also expects the depreciation of the Egyptian pound to EGP37 by the end of 2023. The Russian steel giant Novostal-M Holding seeks to expand its presence in Egypt by establishing a new factory and undertaking various projects. The government plans to offer two river docks in the logistics zone in Alexandria for sale to the private sector next ...