Fitch Ratings has recently upgraded Egypt’s long-term foreign-currency default rating from ‘B-‘ to ‘B’, with a stable outlook. This improvement is attributed to a decrease in external risks, bolstered by foreign investments such as the Ras El-Hekma project and new international funding. International reserves have seen a significant increase, reaching $44.5 billion, while public debt is expected to decline to 78.9% of GDP by 2026. Despite challenges, including high inflation rates and geopolitical risks, economic growth is projected to accelerate, driven by foreign direct investment.
Tags: #Fitch #Egypt #CreditRating #Investment #Economy #PublicFinance
