Egypt Credit Rating is Positive

Moody's and Standard & Poor's said that Egypt's credit rating is positive. Economist considered the assessment of Moody's and Standard & Poor's a good sign of.

It is worth mentioning that recent economic aid pledged by the Gulf countries to Egypt have been deemed “credit positive”.

Chairman of Banque Misr Mohamed Barakat said that over the coming period, Egypt's credit rating would increase. The expected increase could be ascribed to the rise in the foreign currency reserves, which have a positive effect on the exchange rate.

Barakat added that Egypt's credit rating is positive because the Central Bank of Egypt (CBE) adopted rational financial policies.

For his part, High-ranking official with the National Bank of Egypt (NBE) Mahmoud Montaser said that Egypt's positive credit rating indicates that Egypt is back on the right track especially in light of the Gulf Countries' aid.