EGX Indexes' Revenues Hiked 22% in 2022 - ChairmanSource: www.export-egypt.com 1/3/2023, Location: Africa |
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Egyptian Exchange Chairman Rami El Dokany said EGX indexes' revenues hiked 22% in 2022, making its performance among the world's best exchanges.
In a press conference on EGX 2022 recap, Dokany pointed out that the global financial markets saw one of its worst periods due to the Russian-Ukrainian war and its ramifications, including the high rates of inflation and interest rates. Egypt's economy was subjected to two successive shocks over the past years like the world's economies, a matter which led to a decline in Egypt's foreign reserves from $41 billion to $33.5 billion and the exit of foreign investments worth $18.5 billion in the first half of 2022, Dokany noted. He also referred to the Egyptian government's measures to face these crises, topped by the deal with the IMF and setting up a flexible exchange rate system. |
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