The Egyptian Exchange (EGX) started implementing its agreement with Ministry of Foreign Affairs to train elite calibres of the Ministry on the role of capital market in attracting local and foreign investment to promote economic growth.
Mohamed Farid, EGX Chairman, launched the first lecture on Thursday 27th December 2018 for the first group of 35 attendees of first Secretary to be promoted to advisors at the Institute of Diplomatic studies of The Ministry of Foreign Affairs.
During the lecture, Farid reviewed the economic reform programme and its impact on both financial and legislative levels, discussing the devaluation of EGP, energy subsidies, regulation of energy market and allowing products pricing for it. He stressed that reform contributed to the correct economic path and restored stability in macroeconomic indicators.
Fred said that the core of any crisis or economic turmoil is a budget deficit that pressures the ongoing deficit and lead to an accumulation of debts “having deficit more than the real economic growth is a challenge that must be addressed to build financial margins needed for basic services that raise the quality of Egyptian life; education, health, housing, water and energy”.
He added that capital markets are not only a platform for trading and investment, but also a vital source for financing growing companies leading to economic growth.
EGX Chairman, called for the attending first patch to support and assist to promote The Egyptian Exchange externally.