Pre-Trading Thoughts

Egypt’s budget deficit rose to 5.51% of GDP between July and November 2024 from 3.37% during the same period last year. The Egyptian government has pledged to pay EGP 1.4 billion annually, covering the real estate tax for the industrial, poultry, and animal production sectors until the end of 2026. The Suez Canal Economic Zone (SCZone) has inked five framework agreements with private industrial players to invest c. USD 235 mn. Egypt’s non-petroleum trade deficit declined by 22.6% to USD37.1 b...