(3 minutes read)
· JP Morgan said Egypt was the only Middle East and Africa (MEA) country to retain the confidence of world’s big credit rating agencies; Standard & Poor’s, Moody’s and Fitch Ratings, due to its stellar economic performance despite the Covid-19
· Egypt’s Finance Minister Mohamed Maait said the Egyptian economy stay resilient in the face of internal and external shocks
· This as due to the visionary leadership in steering the economy and sustained support given by the people of Egypt, who stood with the government during the challenging times
JP Morgan said Egypt was the only Middle East and Africa (MEA) country to retain the confidence of the world’s big credit rating agencies; Standard & Poor’s, Moody’s and Fitch Ratings, due to its stellar economic performance despite the Covid-19.
Egypt’s Finance Minister Mohamed Maait said the Egyptian economy stay resilient in the face of internal and external shocks. This, he said, was due to the visionary leadership in steering the economy and sustained support given by the people of Egypt, who stood with the government during the challenging times.
The political leadership took the initiative to allocate a financial package in support of the Egyptian economy amounting to 2% of the gross domestic product (GDP), which contributed to supporting the most affected sectors and groups. Egypt is one of a few countries that achieved a positive real growth during 2020. Its growth rate for 2020 is estimated to be one of the highest in the world.
