EGX: ‘Boom’ in large-volume securities resulted from decision to end Egypt’s emergency state

 

CAIRO - 26 October 2021: An “unusual boom” in trading large-volume securities at the Egyptian stock exchange resulted from the decision to end the state of emergency in the country, EGX head Mohamed Farid said Tuesday. 

 

President Abdel Fattah El-Sisi’s decision sent strong messages to foreign investors that the Egyptian state is stable and strong in all aspects, politically, economically, or security wise, Farid told Al-Hadath Al-Youm channel.

 

The presidential announcement  has reflected positively on the Egyptian financial markets, especially with the beginning of Tuesday’s session, Farid added.

 

In a Monday statement, Sisi said the decision comes after the Egypt became “an oasis of security and stability in the region,” a decision that has been applauded by many parties, institutions, and activists.