00:00 Egypt's wealth is the most in the world in 2022.
00:06 What are the main reasons behind that?
00:09 In the beginning, if we look at the total wealth in Egypt in the past year,
00:13 it reached 1.249 trillion dollars,
00:17 and therefore it has been more than 22% annually.
00:23 If we look at the average individual wealth in Egypt in the past year,
00:29 it was 24% annually.
00:31 In 2021, it was more than 26,000 dollars,
00:35 but in the past year it reached about 20,000 dollars.
00:39 One of the most important reasons behind the average individual wealth in Egypt
00:45 is the dollar's interest rate.
00:48 We should remember that the dollar's interest rate was 37% only.
00:53 37% in the past year.
00:57 It is the third largest local currency in the world.
01:03 Therefore, this year's dollar's interest rate
01:07 led to the decline in the wealth of Egyptians in the past year,
01:10 even though the share price rose 23% in the past year.
01:15 If we look at the age groups today,
01:19 who actually owns the wealth in Egypt?
01:21 Today, we see that 65% of adults own less than 10,000 dollars.
01:28 On the other hand, 2.8% of Egyptians own
01:34 between 100,000 dollars and 1 million dollars.
01:37 Therefore, we see a gap in the distribution of wealth in Egypt.
01:42 We also point out that 18 people own more than 500 million dollars in Egypt
01:50 and more than 68,000 people in Egypt own wealth
01:54 ranging from 1 million dollars to 5 million dollars.
01:57 The question remains, how much will the value regression of the Egyptian pounds
02:02 affect the total wealth regression in Egypt in the near future?
Comments