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The Egyptian Exchange was ranked the top stock market in the Arab world in terms of performance according to Morgan Stanley Stock Index, EGX chairman Mohamed Farid said Tuesday.
During EGX annual conference of 2017, EGX benchmark index has made significant gains in 2017 thanks to economic reforms deemed key to salvaging Egypt’s economy.
Mohamed Farid added that the EGX 30 has increased about 19 percent and annual trading has exceeded 292 billion Egyptian pounds (about $16.38 billion) this year.
Farid added that the hikes reflect an improvement in the Egyptian economy.
