The Clap
Credit rating agency S&P Global has maintained Egypt’s credit rating at “B” and maintained a stable outlook.
What
The agency’s report cites the government’s efforts to rationalize public spending and improve the trade balance during 2021/2022, as well as the Suez Canal’s record revenues of $7 billion during the same period.
So what
This is the second time in three months that S&P has maintained Egypt’s credit rating.
Now what
The Minister of Finance views this confirmation as a sign of confidence on an international level in the Egyptian economy’s recovery from its current economic crisis.
