Pre-Trading Thoughts

The IMF has welcomed the government’s progress in selling down state assets in the privatization program, which will support the gradual withdrawal of the state from economic activity and provide resources for external debt reduction. The Sovereign Fund of Egypt received 3 offers from strategic investors to acquire Wataneya from Abu Dhabi National Oil Company (ADNOC) and the ENOC Oil Group, Saudi Petromin, and Taqa Arabia (CCAP). Real estate tax proceeds increased in FY22/23 by 34% to reach E...