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Fitch Ratings

Global sukuk up by 36.1% yoy, hits $252.3B in 2021

Egypt is getting ready to launch its first issuance of Islamic sukuk during Q4 of the current fiscal year

Egypt maintains B+ rating, outperforming majority of rated sovereigns | Fitch

However, Egypt’s rating was weighed down by its “still-large fiscal deficits, high government debt-to-GDP and domestic and regional security and political risks.”

Egypt’s GDP to grow 5.5% in FY 2020/2023: Fitch Ratings

The numbers are lower than the agency’s previous expectations, where forecasted that Egypt’s GDP could reach 6% in 2022

GDP growth could be back to pre-pandemic levels at 6%: Fitch

Volatility caused by the pandemic led to $17 billion of capital outflows in March-April 2020, according to Fitch

Fitch lowers expectations for Egypt’s real GDP growth to 5%

Fitch also noted that gas production expansion will push Egypt’s headline growth