Arab Republic of Egypt
Federation of Euro-Asian Stock Exchanges
Economic Development and Outlook
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The Egyptian Economy was affected by the global economic status, which in turn affected EGX’s indices. However, in the second half of 2016 the Egyptian government was keen to implement the economic reform program in cooperating with the IMF, which had its positive impact on the Egyptian market’s development.
Some laws were issued to enhance the investment environment such as the New Investment Law No. 72 for the year 2017 issued on 31 May 2017, and the amendments of the Capital Market Law No. 95 for the year 1992, which is considered to be the most important incentive step for the development of the Egyptian capital market. Issuing these laws had a great impact on maximizing the private sector role in the Egyptian economy, followed by an increase in the growth rates over the medium-term.
In addition, the Egyptian government has adopted measures to encourage investment and remove obstacles facing investors, by raising the level of performance of the public sector companies, encouraging the private sectors to develop, providing the financial tools to the SMEs projects and reforming the legal & legislative frameworks.
Within the same context, the Egyptian Prime Minister, Dr. Mostafa Madbouly met EGX Chairman to discuss EGX performance as well as to review the strategy of developing the Egyptian capital market during the upcoming period. During the meeting, they also discussed the plan for launching commodities and derivatives markets.
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