Egypt’s Credit Rating Raised to B3

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Moody’s upgrades Egypt to a stable outlook

egypt economy

Credit ratings agency, Moody’s has upgraded Egypt’s credit rating from Caa1 to B3. Moody’s has awarded a stable outlook to Egypt.

Under the leadership of President El-Sisi, Egypt has been seeing signs of recovery.  It is being said that Egypt  is expected to grow by 4.5% in the current fiscal year that ends in June. The company’s forecast is also in tune with the country’s ruling government’s numbers.

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