Political parties: raised "Egypt’s credit rating" It reflects the success of economic reforms and enhances investment confidence
Political parties praised Fitch Rating Agency’s decision to raise Egypt’s rating "B-" to "B" They stressed that this achievement is a testimony to the strength of economic policies amid the challenges of the region and highlights Egypt’s position as a strong and secure country capable of achieving stability and development.
Engineer Ahmed Abdel-Maboud Abdel-Aziz, Assistant Secretary of the Central Organization Secretariat of the Protectors of the Homeland Party, praised the decision of Fitch Rating Agency to raise Egypt’s “B-” rating. to "B", stressing that this achievement reflects the growing confidence in the Egyptian economy and its ability to adapt and grow despite global challenges.
The leader of the Homat al-Watan Party added that this The positive rating is a direct result of the bold economic reforms adopted by the state over the past years, with the aim of creating a stable and attractive economic environment for foreign investments.
Abdel Maboud explained that raising Egypt’s credit rating reflects the strength of its performance. Financial and the success of economic policies in enhancing growth levels and foreign exchange stability, indicating that this evaluation is not only a tribute to Egypt’s ability to fulfill its obligations, but rather constitutes an indicator of the increased confidence of international institutions and investors in the business climate in Egypt.
The Assistant Secretary confirmed that the structural reforms implemented by the state resulted in a tangible improvement in many financial indicators, including the stability of foreign exchange reserves, which provides the ability to confront economic challenges, explaining that this progress enhances the state’s ability to achieve rates Higher growth and the provision of new job opportunities, which contributes to improving the citizen’s livelihood and raising the national economy.
Abdul Maboud concluded by saying that raising the rating represents a morale boost that motivates the continuation of the reform process and the development of the business environment. He stressed that the Hamat al-Watan Party will continue to support those ambitious policies that aim to place Egypt on the map of leading economies in the region and achieve sustainable development for future generations. With the Mostaqbal Watan Party, Fitch’s announcement in its latest report to raise Egypt’s long-term credit rating on foreign currency -B to B with a stable outlook, is an international testimony to the strength of the Egyptian economy.
< p>He pointed out that raising the credit rating increases job opportunities for young people, supports domestic domestic investment, in addition to increasing opportunities for small and medium enterprises, and reflects investor confidence in Egypt.
Hafnawy explained, Raising Egypt’s credit rating has many implications, namely that Egyptian external resources have improved thanks to foreign investment in the Ras El Hekma area, financing by international financial institutions, and inflows of non-residents, in addition to the policies taken by the Egyptian government to attract investment.
Engineer Yasser El-Hafnawy, a leader in the Nation’s Future Party, pointed out that Fitch’s raising of Egypt’s credit rating reflects a decline in inflation rates, which brings a positive impact on the Egyptian citizen directly and quickly, stressing that what the Egyptian state has achieved in Economic achievements in light of a region on fire due to Israel’s aggression against Azza, in addition to the burning events in the Red Sea, confirm to everyone that Egypt’s economy has endured what it absolutely cannot bear. Not only that, but it has achieved strong achievements.
< p>Al-Hanafawi attributed the raising of Egypt’s credit rating to the procedures followed to improve the efficiency of public spending, which included reforms at the legislative level, such as the issuance of the unified finance law and the executive regulations, which included articles and provisions to improve public spending, including the application of the medium-term budget framework, the application of the concept of program and performance budgets, and the application of the concept of budgeting. The general government, which helps in enhancing transparency in the systems of economic bodies and enhancing the ability to perform their financial performance and the volume of investments, which helps in improving public financial indicators.
He pointed out that raising Egypt’s credit rating It comes a few days after Egypt’s external public debt declined by more than $15 billion (Egypt’s external debt declined by about $15.149 billion, a rate of 9.9% during the first half of the current year – January to June – compared to the end of last December). This is considered a first. Over a long period, which means that the Egyptian economy is moving steadily in the right path.
Dr. Jihan Madih, head of the Egypt October Party, confirmed that Raising Egypt’s credit rating by Fitch for the first time since 2019 is a major achievement that reflects the success of the economic reforms led by the state in recent years, and confirms that Egypt is on the right path towards enhancing financial and economic stability, noting that this improvement in the rating is evidence of… The growing confidence in the Egyptian economy is a positive indicator that contributes to strengthening the investment environment and attracting international investors.
Madih explained that raising Egypt’s rating from B- to B with a stable future outlook represents an important step. , as it reflects the strength of the Egyptian economy and its ability to face challenges, stressing that this achievement shows a noticeable improvement in macroeconomic indicators, which enhances Egypt’s ability to attract foreign investments and support sustainable economic growth.
She indicated that this step comes at a time when Egypt is witnessing tangible progress in many financial indicators, such as increasing the cash reserve to $44.5 billion, which reflects the country’s ability to fulfill its financial obligations and stabilize the exchange rate, stressing that these results highlight The importance of the policies adopted by the state to enhance economic growth and achieve financial stability in the long term.
Madih stressed the necessity of continuing to develop the business environment and supporting the private sector by reducing levels of public debt and increasing Growth rates, pointing out that raising Egypt’s credit rating is not just an acknowledgment of the successes achieved, but is also a step that motivates moving forward on the path of reforms to achieve sustainable development, which strengthens Egypt’s position as an economically pioneering country in the region.
Dr. Hassan Hagras, Assistant Chairman of the Democratic Generation Party, confirmed that raising Egypt’s credit rating by Fitch Agency is conclusive evidence of the success of the financial and economic policies pursued by the Egyptian state, noting that this achievement comes amid huge challenges facing it. The region, which highlights Egypt’s position as a strong and secure country capable of achieving stability and development.
Hegras indicated in press statements today that this new classification reflects global confidence in the strength of the economy. It is an international certificate that reflects the international community’s appreciation for the Egyptian government’s efforts to confront economic challenges and implement bold reforms aimed at enhancing growth and financial stability, explaining that this classification represents a strong message to investors and enhances confidence in Egypt’s ability to maintain its financial stability amid difficult conditions regionally and internationally.
Hegras added that Egypt, thanks to rational leadership and sound planning, is moving with confident steps towards achieving a clear vision for construction and development, which ensures the continued achievement of achievements that enhance its position as an influential economic power in the world. Middle East and Mediterranean, pointing out that the Egyptian state was able to achieve a balance between internal stability and economic growth despite the surrounding crises.
Hegras stressed that this achievement represents strong support for the ongoing reform process, Thanks to these wise policies, Egypt is now in a position that qualifies it for further economic progress and achieving sustainable development, stressing that the Egyptian leadership continues to work to create an environment conducive to investment, which makes Egypt a role model in how to face challenges and achieve progress.
