Cairo - Mubasher: The chairman of the Egyptian Exchange (EGX) said that the average turnover in the stock market jumped by around 200% since November 2016 to EGP 1.6 billion, compared to the previous EGP 530 million.
The benchmark index EGX30 gained 18.6% year-to-date, Mohamed Farid added on the sidelines of the Middle East Investment Conference “MEIC”.
Farid stressed the importance of improving the stock market as a tool for more than funding but long-time investment and the distribution of income, noting that EGX is exerting various efforts to raise the level of public awareness, as well as supporting small investors and entrepreneurs.
The Egyptian economy has surpassed the hardest challenges with the reform programme, the chairman of EGX indicated, adding that the upcoming period will see more reforms to ensure the sustainability of economic growth, and the improvement of the investment climate, in order to attract local and foreign investments, create more jobs, and better lives for all citizens.
