Tuesday 28 August 2018

"Fitch" puts Egypt a positive outlook and praises the construction and gas sectors


Cairo – Eco – Fady Labib :Fitch Ratings affirmed that it has affirmed its rating for Egypt in both foreign and domestic currencies at (B) with a positive outlook for the Egyptian economy ...
The report praised the rapid economic growth in Egypt in light of the improved performance of the construction and natural gas production sectors. Has contributed to the growth of 5.2% in 2018 - 2017, and the Agency expected the decline of inflation in Egypt to 11.6% in 2019, from 13% in 2018, Fitch said: The decision was supported by progress in the implementation of the program Economic and financial reform in Egypt, greater macroeconomic stability, and improvement The positive outlook in the evaluation reflects the trends in the improvement in a number of credit standards in response to the reform program, pointing at the same time to the pressure points on raising the assessment represented by the large budget deficit, the large government debt for the GDP, Governance .
The agency pointed to the decline of inflation in Egypt after reaching its highest levels by the end of 2016. Fitch also expected growth to reach 5.5% in 2019-2018 and 2020-2019.

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