{"id":657383,"date":"2024-12-19T00:00:00","date_gmt":"2024-12-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/19\/fitch-upgrades-its-growth-outlook-on-egypt-for-2025-2026\/"},"modified":"2024-12-19T00:00:00","modified_gmt":"2024-12-19T00:00:00","slug":"fitch-upgrades-its-growth-outlook-on-egypt-for-2025-2026","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/19\/fitch-upgrades-its-growth-outlook-on-egypt-for-2025-2026\/","title":{"rendered":"Fitch upgrades its growth outlook on Egypt for 2025-2026"},"content":{"rendered":"

Fitch Solutions\u2019<\/strong> research unit BMI now expects the Egyptian economy to grow 5.1% in FY <\/strong>2025-2026<\/strong>, up 0.4 percent points from its previous 4.7% projection, it said in its latest<\/a> country risk report for Egypt. The decision was supported by an expected improvement in Red Sea navigation, an uptick in the services sector on the back of calming geopolitical risks, and lower borrowing costs pushing up investment.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

But its forecast for the current fiscal year is not as rosy: <\/strong>The Fitch research unit trimmed its growth projection by 0.5 percentage points for FY 2024-2025 and now sees Egypt\u2019s economy growing at a 3.7% clip, down from the 4.2%<\/a> forecast in September. BMI attributed the cut to weaker performance in the last quarter of the 2023-2024 fiscal year alongside the ongoing disruptions in the Red Sea that are cutting down on Suez Canal receipts.<\/p>\n

Despite the downgrade, we\u2019re still up on the previous fiscal year<\/strong>, with the report noting that the recovery of non-oil exports and increased investment will keep the country\u2019s growth above the 2.4% mark, seen last fiscal year.<\/p>\n

BMI\u2019s forecast is more pessimistic than most<\/strong>, sitting below both the government's 4.2%<\/a>growth target<\/a> for the year and the IMF\u2019s expected 4.1%<\/a>. However, the forecast remains above the World Bank\u2019s penciled 3.5% growth<\/a>.<\/p>\n

PLUS- Fitch doesn\u2019t expect the EGP to weaken any further <\/strong>against the greenback thanks to improved investor sentiment and market intervention. Projections of a weaker USD and easing geopolitical tensions, which will help Suez Canal revenues recover, will help the EGP regain some of its losses. <\/p>\n","protected":false},"excerpt":{"rendered":"

Fitch sees the economy growing 5.1% next fiscal year<\/p>\n","protected":false},"author":1,"featured_media":657384,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[104,72,8565],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-657383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-fitch","wpautop","entry"],"acf":{"mongo_id":"bdf2ef39-368b-4789-af24-2ffb358142ce","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1358.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Fitch upgrades its growth outlook on Egypt for 2025-2026","related_issue":[657378],"teaser":"Fitch sees the economy growing 5.1% next fiscal year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.cd9499d8-2ed5-4995-a60e-c254fcbcf4ab.mp3"},"yoast_head":"\nFitch upgrades its growth outlook on Egypt for 2025-2026 - 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The research firm echoed\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/87.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597778,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/05\/egypts-economy-will-continue-to-outperform-its-regional-peers-fitch-says\/","url_meta":{"origin":657383,"position":1},"title":"Egypt\u2019s economy \u201cwill continue to outperform\u201d its regional peers, Fitch says","author":"enterpriseam admin","date":"5 May 2019","format":false,"excerpt":"Egypt\u2019s economy \u201cwill continue to outperform\u201d its regional peers in FY2019-20, Fitch said in its Africa Monitor report for April. While the weighted average GDP growth rate for the MENA region is expected to come in at 1.9% in FY2018-19 and 2.8% in FY19-20, Fitch says it sees Egypt\u2019s GDP\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547379,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/20\/fitch-slashes-egypts-gdp-growth-forecast-for-next-fiscal-year-by-more-than-1-point\/","url_meta":{"origin":657383,"position":2},"title":"Fitch slashes Egypt\u2019s GDP growth forecast for next fiscal year by more than 1 point","author":"enterpriseam admin","date":"20 June 2022","format":false,"excerpt":"Fitch has cut Egypt\u2019s GDP growth forecast for FY2022-2023 to 4.4% from a prior projection of 5.5%, saying the economy will grow more slowly next fiscal year due to inflationary pressures, it said in its monthly outlook on North Africa. What they said: \u201cWe estimate that growth has slowed to\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/3\/Fitch-1600px-e1607166889853.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564979,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/fitch-gives-long-term-fx-debt-outlook-a-%f0%9f%91%8d\/","url_meta":{"origin":657383,"position":3},"title":"Fitch gives long-term FX debt outlook a ?","author":"enterpriseam admin","date":"10 March 2021","format":false,"excerpt":"Fitch Ratings affirmed Egypt\u2019s long-term FX issuer default rating at \u2018B+\u2019 with a \u2018stable\u2019 outlook. The outlook is supported by the country\u2019s track record of fiscal and economic reforms, which authorities continued to enact, and a large economy, \u201cwhich has demonstrated stability and resilience through the global health crisis,\u201d the\u2026","rel":"","context":"In "SPEED ROUND: MACRO"","block_context":{"text":"SPEED ROUND: MACRO","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-macro\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/440.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578949,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/19\/fitch-ratings-is-positive-on-imf-agreement-egp-float-but\/","url_meta":{"origin":657383,"position":4},"title":"Fitch Ratings is positive on IMF agreement, EGP float, but\u2026","author":"enterpriseam admin","date":"19 January 2023","format":false,"excerpt":"IMF pact, EGP flexibility get the thumbs up from Fitch: Our USD 3 bn loan agreement with the IMF and the move to a permanently flexible exchange rate regime have garnered praise in a note from Fitch Ratings. The catch: Our sovereign debt remains at risk of a downgrade if\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/327.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559165,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/12\/credit-suisse-fitch-bullish-on-egypt\/","url_meta":{"origin":657383,"position":5},"title":"Credit Suisse, Fitch bullish on Egypt","author":"enterpriseam admin","date":"12 January 2021","format":false,"excerpt":"Egypt\u2019s economic growth will move back towards 5% by the end of the 2021 calendar year, helped by the upcoming vaccine rollout and continued public investment, Fitch Solutions said yesterday. In its latest MENA macroeconomic update, the research house forecasts FY2020-2021 GDP growth to come in at 3%, slightly below\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/127.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/657383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=657383"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/657383\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/657378"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/657384"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=657383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=657383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=657383"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=657383"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=657383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}