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Egypt stock market decline continues
DOAA GHONEIM BISHOY RAMZY REYAD Published in Youm7 on 08 - 05 - 2011

CAIRO: Egypt's stock market will witness further decline in the next week and up and down fluctuations.
Chairman of the Arab Society of Technical Analysts, Sameh Abu-Arayes, said the current situation could be improved if the country witnessed positive events politically or economically, any event that would encourage foreign investors.
Foreign investors are reluctant to invest in Egypt currently because of deficit and low foreign exchange reserves.
Abu-Arayes said to save the Egyptian economy, there must be plans to improve exporting rates, restore tourism and increase foreign direct investments and foreign aid.
Egypt's economy would move forward through countering the decline in exchange reserves that reached 166.5 billion EGP (U.S. $28 billion). Abu-Arayes said such a problem, if continued, could affect the value of Egypt's pound and increase inflation.
Arabic here.

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