Capital Intelligence maintained Egypt's short-term debt rating at "B" and revised from its outlook on the long-term foreign currency rating and local currency rating from negative to stable.
The review process continues to focus on several aspects, including the outcomes of recent asset sales aimed at boosting foreign currency reserves, the country's net foreign asset position, foreign direct investment (FDI) inflows, and the exchange rate
The UNCTAD’s World Investment Report 2023 “Investing in Sustainable Energy for All” disclosed that the gap has now widened to around $4 trillion per year
These banks are: the National Bank of Egypt SAE, Banque Misr, Banque Du Caire and Commercial International Bank. As well as the B2 long-term local and foreign currency deposit ratings of Bank of Alexandria.
Tourism continues to see a steady recovery, with the region’s travel and tourism industry being a major contributor to its economic growth and development, Forbes wrote
