Brexit Impact to Global : Egypt Stock Market Drops Last Week

Cairo, Egypt stock market performance is reported declining at the end of the last week. This decreasing is assessed in response to the British decision for leaving EU.
This condition has raised worries among investors about its global stability that can cut the capital inflows into Egypt. 
As Reported by World Bulletin, Monday (27/6) Egypt stock index fell 5.8% on Sunday (26/6) afternoon. Meanwhile, the stock market participants Naeem in Dubai noted, the economic impact caused by the decision of the Brexit would not be so serious to Egypt market. But this effect will no longer exists. The reason is, the currency weakening of poundsterling and the euro will benefit the Egyptian economy balance of imports.
' Plus, about 16% of Egypt's total external debt is dominated by the euro, '' Naeem wrote in his report.
Nevertheless, the investors will focus on the possible risks posed by this global market turmoil, so it will not make Egypt more difficult to attract inflows into the country.

Share this

Related Posts

Previous
Next Post »

Comments System

Disqus Shortname