Moody’s upgrades Egypt to a stable outlook
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.