Standard and Poor’s revises Egypt’s outlook from ‘negative’ to ‘stable’

Mohamed Samir
1 Min Read

Standard and Poor’s (S&P) revised Egypt’s sovereign credit outlook from “negative” to “stable” on Friday due to the projected support by the International Monetary Fund (IMF).

Moreover, the financial services agency projected that Egypt’s gross domestic product (GDP) growth will reach 4% or more by 2019.

On the other hand, an increase in the inflation rate is expected in the near future due to the flotation of the local currency and subsidy cuts.

Furthermore, Egypt’s rating is constrained by high public debt, low income, and fiscal deficit.

S&P revised the rating based on the IMF’s support to the government’s economic reform programme. It stated that Egypt’s economy will start recovering in 2018 and 2019 due to foreign direct investment inflows and domestic consumption.

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Mohamed Samir Khedr is an economic and political journalist, analyst, and editor specializing in geopolitical conflicts in the Middle East, Africa, and the Eastern Mediterranean. For the past decade, he has covered Egypt's and the MENA region's financial, business, and geopolitical updates. Currently, he is the Executive Editor of the Daily News Egypt, where he leads a team of journalists in producing high-quality, in-depth reporting and analysis on the region's most pressing issues. His work has been featured in leading international publications. Samir is a highly respected expert on the Middle East and Africa, and his insights are regularly sought by policymakers, academics, and business leaders. He is a passionate advocate for independent journalism and a strong believer in the power of storytelling to inform and inspire. Twitter: LinkedIn:
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