The Media Center stated that the upgrade reflects the
strength of economic reforms and growing international confidence in the
country’s ability to meet its financial obligations.
It added that the rating signals an improvement in Egypt’s
relative position within its category, alongside a decline in credit risks
related to the government’s capacity to fully and timely meet its financial
commitments.
The Center noted that the decision was driven by accelerated
economic reforms, the liberalization of the exchange rate, the recovery of
tourism and remittances from Egyptians abroad, as well as increased foreign
investment.