Experts explain reasons behind Fitch affirming Egypt’s “B” rating
The decision by the global credit rating agency Fitch to affirm Egypt’s rating at “B” with a stable outlook has been welcomed by economic experts and academics, as well as the Finance Ministry, which emphasized that the Egyptian economy has once again demonstrated its resilience and ability to absorb shocks amidst regional turmoil.
He added that while Fitch rating serves as a fresh vote of confidence in Egypt’s strength and economic resilience in the face of repeated shocks, it remains “cautious” due to significant risks—specifically the volume of public debt and the associated debt-servicing costs—that require a fundamental solution.1 percent growth rate—driven by the manufacturing sector—was another significant factor underpinning Fitch’s assessment of the current situation, as was the increase in tax revenues achieved without imposing new specific taxes.
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