Egypt's exchange remains top Arab performer in 2017

Save Story
Leer en español

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

CAIRO (AP) — The head of the Egyptian Exchange says its benchmark index has made significant gains in 2017 thanks to economic reforms deemed key to salvaging Egypt's economy.

Mohamed Farid told reporters Tuesday the EGX 30 has increased about 19 percent and annual trading has exceeded LE 292 billion (about $16.38 billion) this year.

Farid says the index has been the driving force behind making the Egyptian Exchange the top market in the Arab world. He says purchases by foreign investors registered LE 73 billion (about $4.1 billion) in 2017.

Farid added that the hikes reflect an improvement in the Egyptian economy.

Egypt has introduced economic reforms aimed at salvaging the country's economy, which has been struggling since the 2011 uprising that toppled longtime autocrat Hosni Mubarak.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Most recent Business stories

Related topics

Associated Press


    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the Trending 5.
    By subscribing, you acknowledge and agree to's Terms of Use and Privacy Policy.

    KSL Weather Forecast