Hermes surveys chief execs on economy at Egypt Conference

Hermes conducted a survey for 250 chief executives who attended the second annual Egypt Conference, and the results came with 54 percent who consider that the rise in interest rates is the biggest investing obstacle in Egypt during 2018.

Property prices are expected by 47.73 percent of the participants to be increased in 2018, and 32.82 percent said they might stand at the same level as last year.

Around 51.3% of the chief executives are going to invest in listed stocks in the Egyptian Exchange, while 23.1% said they are going to invest in certificates of deposit and treasury bills.

More than half of the attendants (64.3 percent) thought that the exchange rate will witness a slight increase, to range between LE 16-17 per dollar.

For the biggest danger facing the Egyptian economy in 2018, 28 percent said that it comes from the regional political scene, and 25 percent said that it is from the unexpected decrease of private investments.