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Fitch Ratings

Fitch Ratings drops Egypt’s GDP forecast for FY 2022/2023

In terms of Egypt’s external position, Fitch expects it to stay weak as the conflict continues to drive risk aversion towards emerging markets, which may make it more difficult for the return of portfolio returns

Fitch keeps Egypt’s B+ ratings supported by reforms, expects 6% growth for FY2022

This will be Egypt’s 6th consecutive B+ rating from the ratings agency, with the streak starting back in 2018

Sukuk issuance up by 11.6% in value during Q1 2022 | Fitch Ratings

Market volatilities, alongside Ramadan’s seasonal market pattern, could affect this growth in the medium term, explained the report

Fitch Ratings increases Egypt’s real GDP growth forecast

The revised rating ranks Egypt as the 3rd top country in MENA in terms of real GDP growth, following Saudi Arabia and Iraq

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