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The move, along with Fitch Ratings’ decision to affirm its upgraded rating from last year with the same outlook, underscores international recognition of Egypt’s ongoing economic reforms and the government’s commitment to implementing a comprehensive national reform program.
Egypt’s Minister of Finance, Ahmed Kouchouk, announced that Standard & Poor’s (S&P) has upgraded Egypt’s credit rating from “B–” to “B” for the first time in seven years, maintaining a stable outlook.
The move, along with Fitch Ratings’ decision to affirm its upgraded rating from last year with the same outlook, underscores international recognition of Egypt’s ongoing economic reforms and the government’s commitment to implementing a comprehensive national reform program.
Kouchouk explained that the wide-ranging economic and fiscal reforms implemented by the government, coupled with tangible results and strong private sector engagement, have captured the attention of investors, global markets, and international institutions. He noted that international rating agencies have begun to reflect this progress in their assessments, revising their outlooks positively and upgrading Egypt’s creditworthiness, which confirms growing confidence in the country’s economic direction.
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The Minister emphasized that Egypt continues to address structural challenges and advance its reform agenda through coherent and integrated policies aimed at stimulating growth, enhancing competitiveness, and ensuring long-term stability. He added that the continuation of these reforms, supported by consistent and coordinated economic policies, will yield lasting benefits for citizens’ quality of life and reinforce Egypt’s position in global markets.
