Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Fitch Upgrades UK Outlook from Negative to Stable ... Affirms Credit Rating at AA-

Mon 25 Mar 2024 | 12:10 AM
Taarek Refaat

Fitch Ratings affirmed Britain's credit rating at AA-, while adjusting its outlook for the country's economy from negative to stable due to lower economic policy risks.

Fitch expected the ratio of government debt to GDP to stabilize until the end of 2025, adding that the fiscal deficit would decrease from 5.8% of GDP last year to 3.7% in 2025.

The agency said that inflation in Britain has slowed significantly due to lower energy prices, but core inflation and services inflation are still relatively high.