Fitch Ratings has confirmed the rating of the Arab Republic of Egypt at B+ with a stable outlook.
According to Fitch, Egypt's rating is supported by a recent record of economic and financial reforms that improve macroeconomic stability and external financial conditions.
On the other hand, Fitch pointed out that Egypt's rating faces pressures from a large fiscal deficit, a rise in the level of public government debt relative to GDP, and poor governance, highlighting political risks.
According to Fitch, Egypt remains committed to its reform program after the completion of a $ 12 billion three-year loan program with the IMF.
Source (Alarabiya.net, edited)
