The Egyptian Exchange’s main index EGX-30 fell 2.03% on Sunday despite expectations that the opening session of Egypt’s newly elected House of Representatives would instil market confidence.
Other indices also decreased including the EGX-70 fell by 0.9%; the EGX-20 by 2.1%; and the EGX-100 by 1.43%.
A total of 596 MPs were sworn into office during the first hours of the session.
Egypt has been without a parliamentary body for three years. Parliament members are currently preparing their plans and the current government has revealed its programme that will be presented to the People’s Assembly.
The government has prepared a programme aiming to improve public services, achieve social justice, curb rising prices, and expand social safety nets to safeguard those most exposed to risk.