_1777352142843_145525226.png&w=64&q=75){kind=small}
Fitch Maintains Egypt's B Rating
Egypt received mixed assessments from Fitch, which maintained its sovereign rating at B with a stable outlook, citing a balance between strengths and risks. Among the key factors supporting the rating are the rise in foreign exchange reserves to $54.4 billion in 2026, improvements in exchange rate flexibility that helped absorb external pressures, a 5.1% increase in Gross Domestic Product during the fiscal year 2025/2026, and increased tourism revenues along with remittances from Egyptians abroad. Although public debt is projected to decline to 72% of GDP by 2028, it remains higher than the average for countries rated at B and poses a significant burden on the budget. Efforts to reform the financial sector continue, including increased tax revenues and expectations of improved fiscal deficit, but reliance on external support persists despite the end of IMF programs and expectations of reduced external assistance in the future.
Notice: This Is an AI-Generated Summary
Comments (0)