1 Day
Source:
المصري اليوم
Moody's raises Egypt's credit rating to B3
Moody's has upgraded Egypt's credit rating from Caa1 to B3 while maintaining a positive outlook. This improvement was driven by sustainable economic reforms, successful efforts to reduce public debt indicators, and the achievement of a primary surplus of 4.9% of GDP in fiscal year 2026. Additionally, the reduction of government debt to 81.8% of GDP and the increase in foreign reserves to $57 billion have strengthened the economy’s ability to absorb market fluctuations. The agency anticipates continued fiscal discipline and further gains in debt reduction and borrowing costs, supported by reforms in the energy sector and the liberalization of the exchange rate.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)