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Fitch Keeps Egypt's Credit Rating at B
Fitch Ratings has affirmed Egypt’s credit rating at the B level with a stable outlook, based on the strength of economic growth, support from partners, and improved international reserves, which reached $54.4 billion in 2026. The agency stated that the resilience of the exchange rate contributed to currency stability despite the Egyptian pound’s decline of over 14%. Fitch forecasts the current account deficit will rise to 5.1% in 2026 due to increased energy imports, but will decrease to below 3.5% by 2028, supported by improvements in the tourism sector and the trade balance. They also expect inflation to temporarily rise to 12.3% in 2027 before decreasing to under 10% in 2028, alongside continued improvements in public finances and a reduction in public debt to 72% of GDP by 2028, although it will remain above the average for countries rated at "B". Despite economic growth slowing to 4.7% in 2027, the Egyptian economy remains robust, with projected real GDP growth of 5.1% in 2026.
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