Egypt Stock Market becoming more attractive to investors: Goldman Sachs

WASHINGTON - 28 August 2019: The Egyptian stock market is progressing and becoming an investment-magnet, said Goldman Sachs foundation as quoted by Bloomberg.

Farouq Moussa, economic analyst at the foundation, advised investors to pump their money in Egyptian treasury's ten-year bonds, especially after the Central Bank of Egypt decreased interest rate by 1.5 percent.

He expected that inflation rate in Egypt would continue to decline, paving the way for more interest deductions.

The Central Bank of Egypt (CBE) cut interest rates last week by 1.5 percent, down to 14.25 percent, the first cut in six months.