Dr. Mohamed Omran, the chairman of the Egyptian Exchange (EGX), has asserted that the market would move forward or backward according to the political and economic situation and events.

“Whenever the country witnesses some political breakthroughs , EGX trading shall boom.” Omran added

He said after the formation of Egypt’s cabinet, the country’s economic situation will come into much sharper focus starting from attaining the International Monetary Fund (IMF)’s loan which would positively affect the EGX in particular and the economy in overall.

Elsewhere, Omran has also asserted that the rejection of his resignation does not mean that he would serve for a further term in office saying that his term as EGX chairman is supposed to be till July 30th, 2013 and he would be there until that date.