World Economy

Egypt Rating Upped

Egypt Rating UppedEgypt Rating Upped

Fitch Ratings upgraded Egypt’s credit rating one rank to “B” with a “stable” outlook, saying the authorities seemed committed to major reforms, AFP said. “Fuel subsidy cuts and tax hikes have been implemented as part of a clear five-year fiscal consolidation strategy,” Fitch said in upgrading Egypt from a “B-” rating.