"EGX30" يواصل مكاسبه للجلسة الثانية على التوالي بدعم من الصناعة والعقارات
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00:00 Welcome Mr. Ihab and thank you for being here.
00:03 We expected that the compensation of the losses we saw in the Sunday session would continue,
00:08 but Jany, we saw a quick profit on the leading shares and it was maintained at more than 29,000 points,
00:15 but it was taken from the staggered shares with 70.
00:18 Your comment on today's session.
00:20 In the name of God, the most merciful.
00:23 We had doubts that we would see a sharp decline in the share price,
00:30 but we saw a decline of about 2,000 points,
00:33 and then the indicator started to decrease from the losses,
00:35 and yesterday and today we compensated for most of the losses,
00:39 even though when we got closer to 30,000, the market started to decline again.
00:43 In general, we thank God that we have the strongest sector in the market,
00:49 or in the Egyptian stock market, and the most representative sector is the real estate sector.
00:52 Given that the real estate sector is the only sector in the real economy that is very representative in the Egyptian stock market,
00:59 the situation could have been completely different and we could have seen a continuation of the decline.
01:04 We can say that the real estate sector saved the stock market from the sharp declines that would have been caused
01:11 by the rise in the value of the local currency after the market was going down or up for the past period
01:17 due to the decline in the Egyptian pound, and the market compensated for this decline by rising the currency.
01:24 It was a kind of conversion that people consider as an easier way than the gold or the currency fluctuation.
01:31 In general, the real estate sector is the balance that could have brought the market back to its original position,
01:38 and that it would have been able to compensate for the losses,
01:41 but of course, things remained unclear in the market in general,
01:45 because the real estate sector cannot continue to pay the interest on more refunds
01:51 in light of the stances that the state commercial bank has held.
01:53 As we know, the commercial bank was being used by arbitration in the past period to save the dollar.
02:01 Of course, with the refunds that happened in the value of the foreign currencies in front of the Egyptian pound,
02:06 and the rise in the Egyptian pound, it greatly reduced the strike operations that were taking place,
02:12 and in addition, it reduced the demand for the dollar, because the state is in a position to provide the importers,
02:19 we have very large numbers that we can talk about in a follow-up,
02:24 the demand from the state during the current period,
02:28 I think that the state can provide a large part of it, even in a kind of pre-emptive form for food, medicine, and the most important things.
02:39 This will reduce the demand for the dollar and will provide a kind of stability in the exchange rate.
02:45 There is no doubt that the central bank will take advantage of this refund during the next period
02:51 in the liberation of the exchange rate or in the reduction of the value of the currency.
02:54 We are not talking about the liberation of the exchange rate again,
02:56 but we are talking about the reduction of the value of the Egyptian pound in a larger way,
02:59 and reaching levels that we have talked about before, between 45 to 47 Egyptian pounds to 50 Egyptian pounds.
03:04 Now, the most important question, Mr. Ihab, what is the wisdom behind today's event?
03:09 We have received special statements from the Arab Embassy that we can see a global boost today to develop airports.
03:17 Is this another side of the day that we are seeing for the process of the partnerships that the government has started towards managing its assets in a broader way, after all the wisdom?
03:29 I have heard the idea that the Minister of Civil Affairs has pointed out, and of course this is a very positive thing.
03:37 This is what we have been calling for for years, that we open the field to the private sector and give it a bigger chance.
03:43 The government has started to listen to the many calls that are being made, whether from us as workers in the field or as the IMF,
03:53 I don't know which is the reason, but it is important that we start to move in this direction, because as I said, the size of the demands in the coming period,
04:01 despite the large number of 24 billion dollars, in addition to the 11 that are being allocated from the UAE to the Central Bank,
04:09 and here, of course, we must salute the United Arab Emirates for this position, because wherever, even if the area is sold or the area is shared,
04:21 it is excellent and beautiful, and we all sing in this beautiful place in Egypt, but in order to put these funds in a complete way,
04:31 and in this way, of course, there are political directions, of course, we must salute the UAE for this matter and for this support.
04:39 I imagine that there will be other foreign countries, the same thing will be done in the coming period,
04:45 and this will strengthen or block the financial gap that was there, because as you know, we have 42 billion dollars that must be paid off during the current year,
04:53 about 10 of them were paid off, and about 32 remain, and 24 of them, we have about 15-16% or 14 and a little bit,
05:02 which is a result of the absence of the dollar, in addition to the fact that we have the merits, as I said, 32 billion dollars,
05:10 and the loan of the fund is also coming, which is supposed to reach 10 billion dollars,
05:15 so all of this is a matter of strengthening the stability of the pound a little bit during the coming months,
05:21 and giving the opportunity, as we said, to the central bank to free up better prices, so that the collapse that happened or what could have happened in the balance,
05:30 because as I said, two weeks ago, the amount of spending, if we free up 50 pounds, will reach 5 trillion pounds and a little,
05:37 and the interest rates will be 2.1 trillion pounds, and for this reason, the finance minister announced that he will include the budget of the economic bodies,
05:44 or 59 economic bodies, 40 of them will be included quickly, and the interest rates will reach, to raise the interest rates to 4.8 trillion pounds,
05:53 and to get closer to the size of these uses.
05:55 Okay, despite the rise that we saw today and the transformation of Amerigroup to the profit-oriented Ihab,
05:59 the interest rate of 4 trillion pounds was significantly higher, more than 9% to 100%, even though the real estate sector did not respond to any response.
06:07 Are there any reasons, in your opinion, for this decline that happened to Amerigroup?
06:11 No, no, I think that it is like some, because it did not see the rise, I mean it saw the rise yesterday,
06:21 and not all sectors were affected by the positive effects of the deal, in general, it was the ones,
06:29 like Talaat Mostafa, Eomar, some of the companies like Tashit, as you mentioned at the beginning, the Swedish,
06:34 I mean not all of them, but they are the most important, the ones that were more supportive of the index,
06:40 but of course, there are other companies in the real estate sector that did not respond well,
06:43 and it is the same, I do not imagine that it can go far, I mean, it is possible because it has a support level of 120, 121,
06:49 so it will not go far, but the idea in general is that the trade must move,
06:55 the rest of the companies must move, because no matter how positive the news was about the effects of Talaat Mostafa,
07:01 Eomar, and Egypt Jdida, they will not be able to support the index alone, even if it exceeds 30,000 pounds.
07:08 Yes, we thank you, Mr. Ehab Saeed, a member of the Egyptian Stock Exchange Board, thank you very much.