KEY THEMES
Everyone is now probably talking about the cure, the COVID-19 vaccine. However, the cure we are talking about today is—once again— consumption. The Egyptian government's focus should to further stimulate consumption as much as it can because consumption is and continues to be the main driver of the economy. With interest rates being reduced, the monetary policy seems to be on track. It is now the fiscal policy’s turn to push for another round of consumption revival campaign. Yesterday, we mentioned a couple of names that could be benefitting off lower interest rates, namely Palm Hills Developments [PHDC] (+0.6% d/d) and TMG Holding [TMGH] (+3.3% d/d). Today, we remind our clients with a few consumption or consumption-related plays, such as GB Auto [AUTO], MM Group [MTIE], and B Investments [BINV].