Pre-Trading Thoughts

Egypt’s external debt dropped by 0.5% q-o-q to just under USD 155.0 bn in 1Q FY 2022-2023 (from July-September 2022).. The figure is up some 12.8% y-o-y from 1Q FY 2021-2022. The government is considering launching a new export subsidy program at the start of the upcoming fiscal year. The state is also looking into adding new sectors to the subsidy program. The Suez Canal Authority will raise fees for oil ships transiting the waterway from the beginning of April. Tankers carrying crude ...