The Ministry of Finance confirmed that economic and fiscal reforms have led to the stabilization of public finance conditions, improvement of reserves, and acceleration of economic activity rates, explaining that we are continuing to develop the business environment, facilitate and simplify procedures, and enhance competition to increase private investments, productivity, and growth.
A statement issued by the Ministry of Finance, following Moody's upgrade of Egypt's credit rating to "B3" with a positive outlook, mentioned that the Ministry of Finance faces challenges related to high debt service costs and is working diligently and relentlessly to reduce their rates at a faster pace during the coming period.
The Ministry of Finance indicated that the Egyptian economy has become more capable of growth despite shocks, and that we are working in the coming period to raise productivity, explaining that strong economic growth helped us reduce government debt to 81.9% of GDP in June 2026.
It confirmed that net international reserves rose to $57 billion in September 2026, noting that tax revenues increased to 13% of GDP, an increase of 1.6% of GDP over two years without any additional burdens.
The Ministry of Finance added that the positive outlook reflects Moody's expectations of stronger economic growth as reforms continue, along with sustained fiscal discipline and support for production and exports, emphasizing that we aim to drive structural reforms and facilities to boost private sector confidence and achieve high, stable economic growth rates.
The Ministry added that our fiscal policies are balanced and reforms are ongoing to maintain financial stability and advance the path of growth and development, clarifying that we aim to create additional and impactful fiscal space to increase spending on health, education, and more targeted social protection.
