Al Ahly Pharos

In line with IMF directives, the government is committed to have energy prices reach cost recovery levels by the end of the year. The Prime Minister said that the government set a target inflation rate at 10% by 2026. The IMF's mission chief to Egypt, stated that the fifth review of Egypt's loan program will take place before the end of June, according to the current schedule for disbursing tranches. After a sharp wave of outflows, foreign and Arab investors in the local debt market shifted t...

- Market Overview - FWRY - ISPH - ACGC - EGAL - GBCO - Prepared by: Mayada Amin- CETA, CFTe

*Key news articles for today* Egypt’s fourth loan-review showed that more needs to be done on the structural reform agenda. “Progress with the implementation of the structural reform agenda was mixed, with notable delays on critical reforms related to divestment and leveling the playing field,” the IMF said in a statement after its Executive Board completed the fourth review. The IMF also approved the Request for an Arrangement Under the Resilience and Sustainability Facility. The USD1.3 bn ...

- Market Overview - MASR - PHDC - FWRY - AMOC - prepared by: Mayada Amin- CETA, CFTe

Monthly urban headline CPI inflation recorded 1.4% in February 2025 compared with 11.4% in February 2024 and 1.5% in January 2025. On an annual basis, urban headline CPI inflation recorded 12.8% in February 2025 compared with 24.0% in January 2025. Monthly core CPI inflation, computed by the CBE, recorded 1.6% in February 2025 compared with 13.2% in February 2024 and 1.7% in January 2025. On an annual basis, core CPI inflation recorded 10.0% in February 2025 compared with 22.6% in January 202...

- Market Overview - TMGH - MTIE - FWRY - prepared by: Mayada Amin- CETA, CFTe

Egypt has reportedly set a pricing and payment mechanism for securing LNG supply agreements for the summer months. Chinese firm Di Seta has begun construction work on a USD40 million ready-made garments factory in the Qantara West Industrial Zone. Egypt's merchandise exports reached USD4.3 billion during January 2025, compared to USD3.3 billion in the same month of 2024, a growth of 30% YoY. The House of Representatives approved granting workers an annual bonus of no less than 3% of the insur...

- Market Overview - COMI - PHDC - MFPC - MASR - Prepared by: Mayada Amin- CETA, CFTe

The IMF is set to sign off on Egypt’s fourth review of its USD8 billion loan program when the Fund’s Executive Board meets tomorrow, giving the final greenlight for a USD1.2 billion tranche. A further USD1.3 billion could also be on the table, with the Fund set to discuss approving the funds under the Resilience and Sustainability Facility. France, Germany, Italy, and the UK voiced their support for Egypt’s USD53 billion, five-year plan to reconstruct Gaza, their foreign ministries said...

- Market Overview - ADIB - CIEB - TMGH - ABUK - ORWE - prepared by: Mayada Amin- CETA, CFTe

The Prime Minister announced that an oil and gas field was discovered in the King Mariout area, called Fayoum 5. Egypt’s liquefied in facilities will start receiving 400 million cubic feet per day (mcf/d) from Cyprus’ Cronos gas field starting mid-2027 and another 500 mcf\d of gas from the country’s Aphrodite field by 2030, a senior government official said. Cabinet approved a draft decision put forth by Prime Minister Moustafa Madbouly defining the responsibilities of the Industry Ministry a...

- Market Overview - ADIB - CIEB - EGAL - ORWE - ETEL - Prepared by: Mayada Amin-CETA, CFTe

*Key news articles for today* Arab leaders endorsed Egypt’s USD53 bn reconstruction plan for Gaza during yesterday’s emergency Arab League summit held in Cairo. Net foreign reserves rose to USD47.4 bn at the end of February 2025, marking a USD129 mn increase from January. Chinese companies are expected to invest USD2-3 bn in moving production to Egypt, particularly the Suez Canal Economic Zone (SCZone), as China looks to maintain export access to global markets amid trade pressur...

- Market Overview - ORAS - ATLC - prepared by: Mayada Amin- CETA, CFTe

Egypt's Purchasing Managers’ Index (PMI) recorded 50.1 in February declining from a 50-month high of 50.7 in January. The first phase of the Sovereign Fund of Egypt’s (SFE) plan to take over all public enterprises will target some 370 profitable firms, over half of the total 709 companies owned by the state Cairo and Baghdad discuss transferring Iraqi oil to be refined in Egyptian refineries. The Ministry of Petroleum and Mineral Resources has launched 13 new areas for exploration and s...

- Market Overview - ISPH - ABUK - GBCO - MASR Prepared by: Mayada Amin- CETA, CFTe

The General Authority for Investment and Freezones is pitching a USD17 billion investment to build the world’s largest green hydrogen plant in South Sinai. Egypt and Greece are set to begin implementing their 3 GW electricity interconnector (Gregy) before the end of 2H25, with the project set to receive a grant and concessional financing totaling EUR1 billion. Eight Turkish apparel and textile manufacturers are in talks to enter the Egyptian market this year. The government has ap...

- Market Overview - ALCN - ORAS - SKPC - AMOC - EMFD - prepared: Mayada Amin-CETA, CFTe

The IMF is set to sign off on Egypt’s fourth review of its USD8 billion loan program when the Fund’s Executive Board meets on Monday, March 10. Indian plastic packaging manufacturer Flex PET opened its polyethylene terephthalate resin manufacturing plant with investments of USD175 million. Chinese textile manufacturer Zhejiang Cady Industry inaugurated its new USD100 million textile and ready-made garments factory in the Teda industrial zone in Ain Sokhna. French multinational Air...

- Market Overview - BTFH - ABUK - CCAP - ETEL - prepared by: Mayada Amin- CETA, CFTe