the republic logo

Moody's raises Egypt's rating, says growth should accelerate if political stability continues


CAIRO — Moody's Investor Service has upgraded Egypt's credit rating, saying macroeconomic performance has improved and external vulnerabilities have been reduced.

In a statement, it ranked Egypt at B3 on its scale — speculative and subject to high credit risk — with a stable outlook, an improvement from its previous classification of Caa1.

Moody's says it expects economic growth to accelerate to an annual 4.5 percent for the fiscal year that ends in June, before rising to 5 to 6 percent over the coming four years, assuming political stability continues.

Years of political upheaval and violence following the 2011 ouster of longtime autocrat Hosni Mubarak have battered Egypt's economy, although billions of dollars in aid from Gulf allies have bolstered it, and foreign investment and vital tourism revenue have begun to recover.

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to and it will be forwarded to the appropriate editor or reporter.

We also have more stories about:
(click the phrases to see a list)





Follow The Republic:

All content copyright ©2015 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.