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Fitch predicts drop in Egypt's commodity prices
Fitch Ratings has announced its forecast that Egypt's inflation rate will rise to 12.3% during the 2027 fiscal year, primarily due to global shocks in the prices of essential commodities such as oil and wheat. However, it is expected to decline again afterward, falling below 10% in the same year. The agency also projected that the government will raise fuel prices once more before the end of 2026, following the increases implemented in March. Inflation rates are anticipated to stabilize during the third quarter of 2026 and gradually decrease to the government's target of 7% by the end of 2027, supported by the implementation of a flexible exchange rate system, a tight monetary policy, and a decline in commodity prices. Additionally, Fitch maintained Egypt’s credit rating at B with a stable outlook, considering the country's strong economic growth and support from international partners as factors reinforcing its sovereign creditworthiness.
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