Upgrade of Egypt's Ranking Raises Confidence in National EconomySource: www.export-egypt.com 5/18/2018, Location: Africa |
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 Finance Minister Amr el Garhi posted Prime Minister Sherif Ismail on the outcome of upgrading Egypt's credit rating by Standard & Poor's global ranking from B- to B.
At a press conference, Garhi said the improvement of Egypt's credit rating will raise confidence in the national economy. It also mirrors a confidence in the structural and economic reforms Egypt adopted lately to increase growth rates and boost investments, he said. The move will certainly help reduce interest rates on international bonds, he added. But he warned that Egypt's growing debts are still a major economic concern. |
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