Moody’s Raises Egypt’s Credit Rating to B3, Keeps Outlook Positive
The agency cited fiscal consolidation and reforms as public debt fell and foreign reserves rose.
Key takeaways
- Moody’s raised Egypt’s rating from Caa1 to B3 and kept its outlook positive.
- Egypt’s primary surplus reached 4.9% of GDP in fiscal 2026.
Moody’s Ratings raised Egypt’s long-term issuer rating to B3 from Caa1 and maintained a positive outlook. The agency cited ongoing fiscal consolidation and structural economic reforms.
Egypt’s primary surplus reached 4.9% of GDP in fiscal 2026, which Moody’s identified as a key reason for the upgrade. Total public debt fell to 81.8% of GDP in June 2026, from 95.2% three years earlier.
Official reserves rose to $57 billion in September 2026. Moody’s said currency reforms and tight monetary policy helped end chronic foreign currency shortages, while tourism and remittance inflows recovered.
The positive outlook reflects continued fiscal discipline, Moody’s said. Further progress could depend on asset sales under the State Ownership Policy, as well as a recovery in domestic energy production and canal traffic.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
