Pre-Trading Thoughts

Al Ahly Pharos

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12d ago 3:45

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The World Bank sees the Egyptian economy growing at a 3.8% y/y clip during the fiscal year 2024-2025, raising its outlook 0.3 percentage points from its 3.5% forecast in October.

The Finance Ministry is considering exempting imported auto parts used in manufacturing from the 3% state development fee, to instead collect the fees upon commercial sales and during license renewals, following a proposal from car manufacturers, a government source said.

Egypt’s unemployment rate dropped to 6.6% of the total workforce in 2024, down 0.4 percentage points from 2023, according to data from CAPMAS.

The Finance Ministry has issued a guide clarifying the eligibility criteria, obligations, and penalties under the newly approved tax code as well as the dispute-resolution mechanism that it outlines. SMEs will be taxed on their turnover, eliminating arguments with tax inspectors over expenses. The rates are ranges from 0.4% for companies with annual revenues below EGP500k; and 1.5% for revenues between EGP10 million and less than EGP20 million.

Trump is demanding that American military and commercial vessels pass the Suez Canal and Panama canal “free of charge”.

The Transport Ministry is offering up 23 dry ports and logistic zones investment projects, it said in a statement.

Twenty French companies have begun serious negotiations with the Egyptian government to establish various projects in the Egyptian market, as part of their strategy to expand beyond their country's borders.

The Suez Canal Economic Zone (SCZone) is anticipating total investments of more than USD90 billion in the green hydrogen industry, according to the zone's Vice President.

Chairman of the Suez Canal Authority, Osama Rabie, revealed that the Authority aims to restore approximately 70% of the number of ships that used the Canal by 2023.

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