Fitch affirms Egypt’s credit rating at “B” with a stable outlook
Fitch added that Egypt’s flexible exchange rate policy faced a real test with the outbreak of the war involving Iran, which led to an outflow of over $6 billion in foreign portfolio investments from government debt securities (around 1.
The agency noted that the rating is supported by expectations of relatively high economic growth for the Egyptian economy, continued strong support from international and regional partners, as well as the economy’s large scale compared to other peer countries in the same rating category.
Fitch stated that since the beginning of this year, the Egyptian economy has demonstrated improved resilience against external pressures.
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