Omran: EGX Severely Hit By Political Instability

Dr. Mohamed Omran, the Egyptian Exchange (EGX) chairman, told Amwal Al Ghad that the reason behind the EGX’s massive fall during its early session is the political decrees which had great impact on the market.

“EGX has exhausted all its possibilities to prevent such fall … but unfortunately the downwards were beyond our control.” Omran added

“We cannot cancel the precautionary measures amidst witnessing 3 key political issues: the Constituent Assembly to draft the constitution, cabinet formation, the People’s Assembly (Lower House).”

“We hope that the country would witness some of the political stability regarding the 3 key political issues so that it would positively reflect on the EGX’s performance.”