S&P revises outlook on Egypt back to stable

Cairo - Mubasher: Standard & Poor's Ratings Services said it revised its outlook on Egypt back to stable from positive.

S&P expects Egypt's economic recovery to remain gradual and its external imbalances to persist.

The agency pointed out the strong external support that the country has received over the past few years could be affected by fiscal pressures in GCC.

S&P said also that overall sovereign creditworthiness in the Middle East and North African (MENA) region has deteriorated since its last published six months ago.

Mubasher Contribution Time: 19-Jan-2016 11:23 (GMT)