Fitch affirms Egypt's B rating

Fitch Agency affirms Egypt's credit rating at the "B" level, with a stable outlook, supported by strong economic growth, flexible fiscal policies, and foreign reserves. Despite geopolitical tensions and their impact on the exchange rate, Egypt has demonstrated resilience in absorbing shocks, with foreign reserves rising to $54.4 billion in 2026, and the economy continuing to grow at a rapid rate of 5.1% during the 2025-2026 fiscal year. Although the current account deficit is expected to reach 5.1% of GDP, the agency forecasts a decline to below 3.5% by 2028, backed by ongoing reforms and support from international institutions. Inflation remains high due to geopolitical situations, but is expected to decrease to below 10% during 2027-2028, while monetary policy remains flexible.

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