Arab Today, arab today moodys raising of egypts outlook positive
Last Updated : GMT 05:34:53
Arab Today, arab today
Arab Today, arab today

Moody's raising of Egypt's outlook 'positive'

Arab Today, arab today

Arab Today, arab today Moody's raising of Egypt's outlook 'positive'

Finance Minister Hani Qadri Demian
Cairo - MENA

 Finance Minister Hani Qadri Demian said Tuesday Moody's decision to raise Egypt's outlook from negative to stable was a positive step towards improving the country's status on the international investments' map.
However, Demian said in a statement that the new rating was not enough to express the positive developments Egypt was going through at the political and economic levels and the structural reforms adopted by the government recently.
"The raising of the ratings is taking place so slowly and does not match the pace through which the reduction has been made since 2011," he added.
"Moody's has reduced Egypt's ratings six successive times since 2011," he said.
Moody raised Egypt’s credit rating outlook to stable from negative on Monday, citing a more stable political and security situation and signs of economic recovery.

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