Egypt stock market’s H1 surplus sets record

Big 5

Egypt’s stock market posted a first half budget surplus worth more than 600 million Egyptian pounds ($33.5 million), confounding market challenges for a deficit, bourse chairman said Sunday.

This is the highest surplus the Egyptian bourse has ever achieved in its history triggered by undergoing financing restructuring and cost reduction measures, Mohamed Omran further said in a press conference.

Between 2011 and 2013, EGX had gone through a financial deficit worth 40 million pounds, Omran added.