Rizq: modification "Fitch" Its future outlook for Egypt’s economy confirms the success of implementing reform programs
Ayyad Rizk, a leader in the Republican People’s Party, said that Fitch’s change in its outlook for the Egyptian economy from stable to positive has many implications, the most important of which is that Egypt has been able to overcome successive crises and challenges, and has succeeded in implementing the economic reform programs approved by the state and government institutions.< /p>
Rizk added in a statement today that among the positive indications of Fitch’s report on the Egyptian economy is that it gave a new incentive to investors and opened new doors for investment, especially foreign investment on Egyptian lands. He explained that the report also amends the state’s credit rating in a way that contributes to reducing debt, especially since the state has a plan to reduce the ratio of debt to gross domestic product during the coming period.
The leader of the party indicated The Republican People noted that the report confirms that Egypt has a strong economy that was able, with its flexibility, to face various crises and shocks, which resulted in Egypt’s success in lowering interest rates, declining inflation, strengthening the financial system, improving the business environment, completing the International Monetary Fund loan agreement, and entering segments of it.
Rizk expected that the Egyptian economy would witness further improvement during the coming period, especially with the economic measures that the government is now taking to increase economic stability and achieve development, prosperity, and progress in line with building the new republic.< /p>
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