Investing Surplus Social Insurance Funds In Egypt's Capital Markets
Keywords:
case study, Egypt, Surplus investment, Egyptian Stock Exchange, emerging capital markets, financial viabilityAbstract
In the late 1990s the Government of Egypt issued a Ministerial Decree allowing the Ministry of Social Insurance to invest a portion of the surplus from the Egyptian social insurance system in the Egyptian Stock Exchange. By 1998, the accumulated surpluses from the social insurance system had reached nearly LE100 billion (US$29 billion), and annual surpluses were expected to continue until demographics began shifting, sometime in the next few decades. By investing a portion of these surplus funds in Egypt s emerging capital markets, the government expected to earn higher returns and enhance the financial viability of the social insurance system.
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