Raising Egypt’s Credit Rating Confirms Gov’t ProgressSource: www.export-egypt.com 4/8/2015, Location: Africa |
|
|
|
|
|
Finance Minister Hani Qadri said on 7/4/2015 a decision taken by Moody's for credit rating that raised the Egyptian economy's credit rating confirms that the government is going steadily towards achieving economic and social goals to make a real evolution in people's living standards.
In a press release, Moody's said the level of Egypt's credit rating rose by one notch after a long-term loan from both foreign and local currencies, bringing each to B3 with keeping Egyptian economy at a stable degree, the minister said. This rise depends on the stability of the cash reserves at the Central Bank of Egypt (CBE) at $15.5bn at the end of February 2015, which provides cover for a large external debt service during the current year, he added. The minister stressed the need to complete the financial and economic reforms, with paying attention to protection policies and social justice programs to achieve the desired economic progress. Moody's explained that the forecast for local and foreign investments increased especially after the recent economic conference, where Gulf States declared support. Moody's predicted the government's success in completing the economic and financial reforms to control the increase in Egypt's public spending, in addition to reducing budget deficit. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
