The Media Center of the Egyptian Cabinet published a series of infographics on its social media platforms highlighting the improvement in Egypt’s credit rating, reflecting the success of the economic reforms pursued by the state.

In a move reflecting restored confidence in the Egyptian economy, the improvement in Egypt’s credit rating confirms the success of the economic reform path adopted over recent years. The upgrade is a positive signal from international rating agencies about the robustness of the economic fundamentals and the state’s ability to meet its obligations.

Standard & Poor’s agency raised Egypt’s credit rating for the first time in seven years.

The infographics indicated that Standard & Poor’s announced an upgrade of Egypt’s credit rating from “-B” to “B” with a stable outlook and expectations of continued economic recovery and improved financial indicators.

The infographics showed that broad economic reforms over 18 months led to strong economic growth during the 2024/2025 fiscal year, boosting tourism revenues and remittances from abroad, with an economic growth rate of 4.4% in 2024/2025.

They highlighted Standard & Poor’s key forecasts for Egypt’s economic indicators, expecting the growth rate to rise to 4.8% in 2025/2026, 4.7% in 2026/2027, and 5% in 2027/2028.

According to the agency’s estimates, expanding the tax base and rationalizing subsidies and spending contributed to achieving a primary surplus in 2024/2025, with expectations of continued primary surpluses until 2028.

The agency also predicted that maintaining a flexible exchange rate, alongside support from the International Monetary Fund program, will contribute to enhancing economic growth and improving public finances during 2025-2028.

Similarly, Fitch agency showed the credit rating stable at level B with a stable outlook.

The infographics reviewed several economic indicators reflecting growing confidence in Egypt’s economic performance, including an accelerated growth rate in the 2024/2025 fiscal year supported by the recovery of private investments and increased consumer spending, with Fitch expecting growth to rise to 4.7% in 2025/2026 and 4.9% in 2026/2027.

The infographics noted that the exchange rate has been clearly stable since March 2024, with no accumulated demand for foreign currencies.

They also pointed to Fitch’s expectations of the general budget deficit stabilizing at 7.5% of GDP in 2025/2026, supported by a 35% increase in tax revenues due to digital transformation and simplification of procedures, with a forecasted decline in the deficit to 6.5% in 2026/2027 alongside lower debt costs.