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00:00 We will go directly to Cairo, Mr. Mohamed Rida, the executive president of the Solid Capital Group in Egypt.
00:05 Mr. Mohamed, as you heard from the electoral commission, the victory of President Abdel Fattah el-Sisi
00:11 is a blessing for Egyptians and the Egyptian people for this victory.
00:14 A state that has been extended for six years today.
00:17 We saw a rally for the markets today with the rise of the currency.
00:23 Let me start with this victory, a state of six years. Will the political and economic scene change with the victory of President Abdel Fattah el-Sisi?
00:33 Of course, congratulations, Mr. President Abdel Fattah el-Sisi. It is a deserved victory.
00:39 We are talking about the highest attendance in the history of Egypt.
00:43 We are talking about a very high voting rate, despite the presence of real and clean elections.
00:49 Today, in December, we will talk about the results of the presidential election.
00:54 All Egyptians were on the economic side, especially those who were waiting.
00:58 We were all in a state of anticipation, whether it was the shape of the Egyptian economy or the overall indicators.
01:02 We are talking about the financial markets. All of this was in anticipation of the presidential election and what will follow.
01:08 A lot will follow. Today, we will talk about the support of the people, the political leadership.
01:14 This will give them a lot of support in front of the international institutions in the process of re-reform and re-structuring the Egyptian economy.
01:22 We will talk about negotiations with the National Bank of Egypt, which raised our values to 10 billion dollars.
01:28 All of this will have a big difference. Now, the period of accumulation is over.
01:32 We will start to see. First, we will see the form of the state's treatment or the government's treatment or the central bank's treatment of the local exchange rate.
01:40 How will the trend be clear? The shape of the new government. There are leaks of some prominent figures that will take over.
01:47 There will be a big change in the Egyptian government from the first prime minister to others.
01:52 Today, we will talk about all of this. It may greatly push the Egyptian economy to make a big change in the shape and content in the coming period.
02:00 This will positively affect the shape of the financial markets in addition.
02:04 The provision of foreign currency and foreign currency in the form of compensation is a very important issue.
02:13 How much will the economic ministerial structure be able to deal with these crises that have spread during 2023?
02:24 Today, we need an economic backdoor for the prime minister.
02:30 This was the case in the last period. It was a period of national projects and we had a prime minister who was more involved in this matter.
02:36 Today, we have very big challenges. We need, in 2024, a currency surplus of 30 billion dollars in the form of loans, benefits, and other payments in addition to the financial needs of the main commodity.
02:51 Therefore, today we have a very big situation to provide dollars surplus of 18 to 20 billion dollars in addition to postponing some investigations.
03:00 As we saw in the last period, some foreign countries that supported Egypt postponed some investigations.
03:06 This will be very different. Today, the direction of compensation and the price of dollars in the market is balanced and high without any link.
03:15 Today, the government's move, the central bank's move, and the payment and management of the financial reserves that can be managed or can be stopped by all these open centers will have a big shape and a big difference.
03:28 I expect and anticipate a new shape. I expect that the government will change and there will be a new form and a change in the methodology of the central bank of Egypt and the management of the exchange rate.
03:40 We may see a different year if all these factors change. Today, as I said at the beginning of my speech, the time of waiting is over.
03:47 The results and impact on the ground will begin now, God willing.
03:51 I hope you stay with us, Mr. Mohamed. Let's move to Yasin Al-Juhari, of course, from the headquarters of the National Elections Commission.
04:00 Yasin, as we heard, President Abdel Fattah Al-Sisi has won 39 million dollars and he has overcome this victory. How are your friends now?
04:12 Welcome, Maysa. The press conference of the National Elections Commission has just ended.
04:19 The results of the first round of elections are announced. There are many numbers, but the most important one is not only the current Egyptian president, Abdel Fattah Al-Sisi,
04:29 but the absolute majority in these elections, about 89% of the total votes of the voters.
04:35 But also, the percentage of participation of Egyptians in the elections exceeded 66%,
04:42 which is, as the president of the National Elections Commission said, the highest percentage of participation in any presidential election ever.
04:50 Also, the big difference between the percentage obtained by the current president, Abdel Fattah Al-Sisi, is more than 89%,
04:58 while the percentage of the other three candidates does not exceed 4% to 4.5%.
05:05 Therefore, Egyptians have chosen to be the president of Egypt for a presidential term that will last for 6 years.
05:13 It is a period, of course, full of many challenges. It is not a period on the level of the economic issue,
05:20 but many other issues, whether on the level of foreign policy, on the level of domestic policy, or on the level of the economic issue,
05:29 which is the issue that Egyptians are most concerned about, their living conditions, inflation rates, prices, and so on.
05:37 But, Al-Sisi was elected as the president of Egypt, and therefore, we will see in the coming period how he will deal during these 6 years
05:45 with all the challenges that Egypt faces during this period.
05:48 Thank you, Yassine.
05:50 I would like to return to Mr. Mohamed Rida. The last question is, how much will the new government policy in 2024 be of interest to the stock market?
06:03 We have seen that in 2023, Mr. Mohamed, the stock market will be specialized in the stock market.
06:08 Will it be the same size that we saw in 2023?
06:12 Let's talk about the direction of the movement today. We have seen the previous government in terms of the government investments,
06:22 which were, of course, a direction of the state budget, the 20-30 that the Egyptian program put on it.
06:27 It did not compete with it much. We are talking about a movement with the State Fund, the State Fund moving out of some economic sectors.
06:33 Of course, we have not seen this either. So, I expect that there will be a lot of government investments with the development and return of the relationship
06:40 with the State Fund and its strength. With this, the very strong support of the political leadership during this period will give it a lot of support.
06:48 This transformation may support the implementation of very strong government policies that exceed 5 billion dollars in the Egyptian market.
06:55 Therefore, it will support it with the size of the liquidity. We know that always with government policies, it attracts foreign liquidity or the liquidity of foreigners and Arabs.
07:03 Therefore, it will have a lot of support for its indicators and strength during the coming period. We expect that it will be good for Egypt and Egyptians.
07:10 We thank you, Mr. Mohamed Rida, the Executive President of the Solid Capital Group in Egypt. We also thank Yasine Al-Juhari.