Fitch lowered its forecast for the growth of the Egyptian economy for the current fiscal year to 3.7% from 4.2%, as a result of the weaker performance than expected in the last quarter of the previous fiscal year and the continued decline in shipping traffic in the Suez Canal.
Despite the current challenges, the credit rating agency has expressed cautious optimism about the medium-term prospects of the Egyptian economy, expecting it to rise to 5.1% in the fiscal year 2026/25 compared to 4.7% in previous forecasts.
read more
Follow the latest news on Google News
