Egypt’s Finance Ministry highlights stronger fiscal stability, reserves and growth after Moody’s upgrades Egypt to B3.
Egypt’s innovation drive targets higher-value manufacturing, stronger local brands and greater competitiveness in global markets.
Madbouly also said Egypt’s economy recorded 5% growth in the third quarter of the current fiscal year, exceeding the government’s previous estimate of 4.8% despite regional geopolitical tensions.
For the next fiscal year, the IMF also lowered its forecast for Egypt’s growth to 4.8%, compared to 5.4% in its previous estimates.
This performance, according to a statement from the Ministry of Planning, Economic Development, and International Cooperation, represents the highest quarterly growth rate recorded by the Egyptian economy in the past three years.
