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Egypt’s GDP growth forecast at 4% from 2017-2020
S&P projects Egypt’s GDP growth may exceed 4% by 2019
President Jacob Zuma has welcomed the decision by Standard and Poor’s (S&P) to maintain South Africa’s investment rating at BBB-. However, the agency report also included a gloomy outlook.
Egyptian deficits still remain high when compared to other countries at similar rating levels
Egyptian government is aiming to achieve better results in upcoming three years, says Salman
On 15 May, Standard and Poor’s revised its outlook on Egypt, raising it from stable to positive
Since the 25 January Revolution, Egypt’s economic outlook was downgraded several times by international credit rating agencies. The downgrades came about due to violence and political instability, which took a massive toll on investments and foreign reserves. In the wake of calls for protests on 30 June, Egypt’s economy saw a credit ratings cut on 21 …
Fitch In January, Fitch Rating Agency restored Egypt’s outlook to stable for the first time since it was downgraded to negative nearly three years ago. This reflects an improvement in an economy hammered by years of violence and political instability that had a massive toll on foreign reserves and many industries. The ratings firm, 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
S&P notes that violence may escalate if “social elements” are radicalised, which will result in the continuous weakening fiscal and external accounts
Putting the country’s investment-grade rating at risk
S&P value total Islamic banking assets in Egypt at around $11.6bn
Ratings agency upgrades long-term ratings on National Bank of Egypt, Banque Misr and Commercial International Bank to B- from CCC+, raises public information rating on NSGB.
Adverse affects on banks following Egypt’s downgraded S&P rating extend to pharmaceuticals
New credit rating one level above Cyprus and below Greece and Pakistan
Fund spokesman said that no new IMF mission to Egypt has been discussed or scheduled.
Egypt’s long-term rating was lowered to ‘CCC+’ from ‘B-‘, while its short-term rating dropped to ‘C’ from ‘B’
Bank makes top 50 ranking for fifth year in a row, also ranks as the most secure bank in the Middle East
S&P cuts Egypt’s credit rating to B-; fourth downgrade in 14 consecutive months