https://en.sputniknews.africa/20240504/egypts-economic-outlook-brightens-as-external-financing-risks-ease--1066361383.html
Egypt's Economic Outlook Brightens as External Financing Risks Ease
Egypt's Economic Outlook Brightens as External Financing Risks Ease
Sputnik Africa
The upgrade comes as Egypt has secured significant foreign investment from the UAE and financial support fromthe IMF. The North African country has implemented... 04.05.2024, Sputnik Africa
2024-05-04T12:05+0200
2024-05-04T12:05+0200
2024-05-04T12:05+0200
economy
egypt
united arab emirates (uae)
international monetary fund (imf)
middle east
https://cdn1.img.sputniknews.africa/img/07e8/05/04/1066361214_0:0:2363:1330_1920x0_80_0_0_28a68f8703af120feb7dc2c1693e039f.jpg
Global ratings agency Fitch has revised Egypt's economic outlook from stable to positive, signaling growing confidence in the country's financial stability.A recent $35 billion real estate investment from the United Arab Emirates is expected to further bolster economic development in the North African country.Moreover, the International Monetary Fund (IMF) recently approved an $8 billion financial support package for Egypt, expected to alleviate the nation's debt burden. Fitch affirmed Egypt's 'B-' rating, citing reduced external financing risks and a surge in foreign direct investment.These positive developments have attracted foreign investors, who have injected billions of dollars into Egyptian treasury bills. Consequently, Egypt's net foreign assets deficit has significantly decreased.Fitch also acknowledged Egypt's efforts to curb off-budget spending, contributing to reduced public debt sustainability risks.
https://en.sputniknews.africa/20240502/brics-can-strengthen-south-south-cooperation-ethiopian-finance-minister-states-1066340493.html
egypt
united arab emirates (uae)
middle east
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2024
Muhammad Nooh Osman
https://cdn1.img.sputniknews.africa/img/07e7/04/0a/1058467512_0:0:1280:1280_100x100_80_0_0_ec723833bcbfcaed2e21952965ad99e4.jpg
Muhammad Nooh Osman
https://cdn1.img.sputniknews.africa/img/07e7/04/0a/1058467512_0:0:1280:1280_100x100_80_0_0_ec723833bcbfcaed2e21952965ad99e4.jpg
News
en_EN
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Muhammad Nooh Osman
https://cdn1.img.sputniknews.africa/img/07e7/04/0a/1058467512_0:0:1280:1280_100x100_80_0_0_ec723833bcbfcaed2e21952965ad99e4.jpg
economy, egypt, united arab emirates (uae), international monetary fund (imf), middle east
economy, egypt, united arab emirates (uae), international monetary fund (imf), middle east
Egypt's Economic Outlook Brightens as External Financing Risks Ease
Muhammad Nooh Osman
Writer/Editor
The upgrade comes as Egypt has secured significant foreign investment from the UAE and financial support fromthe IMF. The North African country has implemented measures to address its external financing challenges.
Global ratings agency Fitch has revised Egypt's economic outlook from stable to positive, signaling growing confidence in the country's financial stability.
A recent
$35 billion real estate investment from the United Arab Emirates is expected to further bolster economic development in the North African country.
Moreover, the International Monetary Fund (IMF) recently approved an $8 billion financial support package for Egypt, expected to alleviate the nation's debt burden.
Fitch affirmed Egypt's 'B-' rating, citing reduced external financing risks and a surge in foreign direct investment.
These positive developments have
attracted foreign investors, who have injected billions of dollars into Egyptian treasury bills. Consequently, Egypt's net
foreign assets deficit has significantly decreased.
Fitch also acknowledged Egypt's efforts to curb off-budget spending, contributing to reduced public debt sustainability risks.
