Moody’s affirming Egypt B2 credit rating reflects successful economic policies: Maait

Moody’s affirming Egypt B2 credit rating reflects successful economic policies: Maait

Mohamed Moeit, Minister of Finance, said that Moody's decision to keep Egypt's credit rating at B2, with a stable outlook for the economy, reflects the agency's confidence in the government's ability to adopt successful economic and financial policies.Moeit added, in a statement on Thursday, that this decision confirms Egypt's success in its wise management of the monetary file during the novel coronavirus crisis.He noted that the government keeps implementation of an integrated package of structural reforms to strengthen the macroeconomic structure."We are keen on achieving our monetary and economic targets despite all the internal and external challenges posed by the coronavirus“ Maait added. "We seek to increase the economic growth rate in the medium term by 5.5%, as Moody's expected. The new national projects also aim to stimulate investments which