The benchmark EGX30 index fell 2.13% to close at 51,256 points, while the Sharia-compliant index dropped 1.97% to 5,705 points.
He also said Egypt’s engagement with the International Monetary Fund (IMF) remains important not only for financing, but also for technical coordination and reform monitoring, with continued cooperation expected as policy implementation progresses.
Al Saraf noted that the Central Bank of Egypt (CBE) continues to prioritize inflation as the main policy anchor, closely monitoring the impact of interest rates on price dynamics and overall demand.
The outlook was presented during Standard Chartered’s Global Research Briefing, which was attended by Business Today Egypt.
The official said the investment banks managing the deal, in coordination with Banque Misr and the Central Bank of Egypt, agreed to delay the offering by three to four months due to ongoing geopolitical tensions in the Middle East, as well as weaker market activity during the summer period.
