Expert expects stock market improvement with introduction of Global Telecom funds into the market

Wael Enabeh, an expert in financial markets, said the imposition of taxes on stock market transactions was one of the reasons for the continued decline. It is unacceptable that a country the size of Egypt and its weight on world indices is close to zero, while Saudi Arabia accounts for 2% and Kuwait 2%. Arabic, despite the size, weight and history of Egypt.

He pointed out that during the 2006-2007 period, we did not have taxes in this way on the stock market and therefore exceeded the number of publicly traded companies. There was an incentive to waive tax by 10% for those who registered their company on the Egyptian stock exchange and whose market value was equivalent to the gross product.

Expert: solve the problems of high commissions and effective marketing solve the stock market crisis

He continued: I expect a significant improvement in the market, especially with the entry of the Global Telecom agreement funds into the market and the launch of the IPO program that the Government was committed to implement during the third and fourth quarters of this year, as well as the removal of the third installment of the stamp tax. However, I stress the need to reconsider government and fiscal policies regarding the capital market and investments in general, if we want an attractive environment for effective investments.