S&P upgrades Egypt’s credit rating to “B” with stable outlook

CAIRO - 10 September 2025: S&P Global has upgraded Egypt’s sovereign rating to “B” from “B-”, with a stable outlook, reflecting improvements in the country’s economic and fiscal performance over the past 18 months.

In a statement cited by Reuters, S&P said the upgrade reflects Egypt’s progress in fiscal consolidation, macroeconomic stabilization, and expansion of external financing sources, supported by expectations of stronger growth in the medium term.

The agency noted that recent reforms, including the liberalization of the exchange rate, subsidy adjustments, and measures to enhance private sector participation, have contributed to improving economic indicators and investor confidence.

S&P added that it expects the government to continue implementing fiscal discipline gradually while pursuing policies to strengthen economic stability after a period of global and regional challenges.

The agency said the stable outlook indicates a balanced assessment of risks, with continued reform progress likely to support Egypt’s recovery and credit profile.