Hermes surveys chief execs on economy at Egypt Conference

CAIRO- 17 January 2018: Hermes conducted a survey for 250 chief executives who attended the second annual Egypt Conference, and the results came with 54 percent who consider that the rise in interest rates is the biggest investing obstacle in Egypt during 2018.

Property prices are expected by 47.73 percent of the participants to be increased in 2018, and 32.82 percent said they might stand at the same level as last year.

Around 51.3% of the chief executives are going to invest in listed stocks in the Egyptian Exchange, while 23.1% said they are going to invest in certificates of deposit and treasury bills.

More than half of the attendants (64.3 percent) thought that the exchange rate will witness a slight increase, to range between LE 16-17 per dollar.

For the biggest danger facing the Egyptian economy in 2018, 28 percent said that it comes from the regional political scene, and 25 percent said that it is from the unexpected decrease of private investments.

Zohr Field is expected by 35.3 percent to be one of the factors that will positively affect the Egyptian economy in 2018, and 25.53 percent expect that the decrease in interest rates and the return of tourism will affect the economy in a good way.

For the government’s priorities in 10 years, 65.4 percent said it should be for the education system.