Pre-Trading Thoughts

The government plans to implement some structural reforms in FY2023/24, including amending law no.3/2005 regulating M&As, announcing the tax policy for the next five years, and preparing a unified vision for start-ups, preventing conflict of jurisdictions between different entities. Egypt will likely have to spend USD29.2 billion on debt repayments in 2024, USD10 billion higher than our estimated bill in 2023 at USD19.3 billion. GAFI could start to issue silver licenses for local startups...