Egypt's Assets Move Forward in 2018 with Structural ReformsSource: www.export-egypt.com 1/1/2018, Location: Africa |
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Egypt is moving forward in 2018 with structural reforms that helped make the nation’s assets among the best performers in the Middle East.
Foreign holdings of treasury bills was about $19 billion as of the end of November as authorities removed most currency restrictions and cut subsidies. The main stock gauge, the EGX 30 Index, advanced more than 20 percent this year, double its nearest Middle Eastern contender. The central bank is seen cutting its key interest rate in 2018, according to Khaled Darwish, an equity portfolio manager at CI Capital Asset Management in Cairo, and that will likely prompt more investors to opt for stocks over bonds. Healthcare, infrastructure and consumer shares have the most attractive valuations, he said. |
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