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Fitch raises Egypt’s rating to B, S&P’s upgrades outlook to positive, Moody’s promotes rating to B3
Budget deficit expected to decrease to 11.6% of GDP in FY15, in comparison to the 17.5% of GDP recorded in FY14, Fitch noted
Government bond rating confirmed at Caa1, however
“A very high turnout might have enhanced the legitimacy of the return to military rule in domestic and international eyes,” the credit agency says
Putting the country’s investment-grade rating at risk
IMF: The political uncertainly Egypt underwent has clouded the economic outlook and impacted the policy performance.