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Golden Brokers: Egypt offers interesting investment opportunities
Golden Brokers said Egypt offers interesting investment opportunities. The EGX 30 index from the Cairo stock exchange has appreciated by about two-thirds over the past year.
Egypt is the most populous country in the Middle East and the third largest African economy, the country shows solid chances to be the economic tiger of the region as the analysis by Golden Brokers indicates.
Egypt’s economy is the 41st largest in the world, and its gross domestic product is expected to reach $378 billion this year, according to the IMF. The gross domestic product per person (according to purchasing power parity) here is less than 17 thousand dollars, which ranks Egypt 93rd in the world. “On the other hand, the lower is the basis the higher the opportunities to grow are,” said Ariff Azraei Bin Mohammed Kamal, financial analyst of Golden Brokers.
Services account for the largest share of GDP, around 55 percent. The overwhelming majority are services in the tourism industry. Roughly one third of Egypt’s GDP is made up of industry, and the remaining 12 percent is accounted for by agriculture.
Egypt’s economic situation presents a number of opportunities for its economic development, especially if the government implements the reforms, it promised the International Monetary Fund last year. “In March 2022, the government said it had begun talks for its latest financial package from the IMF, eventually confirming a $3 billion loan linked to reforms that include reducing the footprint of the state in the economy,” according to Reuters.
Egypt offers the possibility to invest on the stock exchange in Cairo.
Golden Brokers Ltd. is an international broker that combine award-winning technology which enables professional and individual traders alike to gain access to the world’s largest and most liquid markets with personalized 24/5 customer care across all major time zones, offering the ultimate trading experience.
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