Moody's rating reflects confidence on Egypt's economy: Finance Min.

Moody’s affirmation of Egypt’s rating at B2 with a stable outlook reflects the government's ability to adopt successful economic and financial policies that began with a serious program of economic reform over the past years, Minister of Finance Mohamed Ma’it stated.

Ma’it clarified Thursday that the economic reform program provided a measure of resilience to the Egyptian economy that enables it to interact with internal and external challenges and shocks.

“The decision confirms Egypt's success in managing the state's public finances efficiently during the Corona crisis, which won great praise from international institutions, especially in light of the government's continuing implementation of an integrated package of structural reforms to enhance the macroeconomic structure,” he added.