On Friday, Standard & Poor’s credit rating agency upgraded Egypt’s sovereign rating by one notch from “B-” to “B”, reflecting a clear improvement in macroeconomic performance driven by comprehensive structural reforms implemented over the past eighteen months, according to Reuters.

The agency noted that the strong improvement in GDP growth during fiscal year 2025, along with increased public revenues and controlled spending, reflects the Egyptian government’s commitment to the International Monetary Fund program goals and its pursuit of sustainable primary surpluses.

Despite the upgrade, the agency maintained Egypt’s outlook as “stable”, indicating that the pace of fiscal reform may continue gradually in the coming period amid global and regional economic challenges.