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		<title>S&#038;P Raises Egypt’s Credit Outlook From Stable to Positive</title>
		<link>https://egyptianstreets.com/2024/03/19/sp-raises-egypts-credit-outlook-from-stable-to-positive/</link>
					<comments>https://egyptianstreets.com/2024/03/19/sp-raises-egypts-credit-outlook-from-stable-to-positive/#comments</comments>
		
		<dc:creator><![CDATA[Shereif Barakat]]></dc:creator>
		<pubDate>Tue, 19 Mar 2024 13:55:10 +0000</pubDate>
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		<guid isPermaLink="false">https://egyptianstreets.com/?p=91580</guid>

					<description><![CDATA[<p>Standard and Poor’s (S&#38;P) Global Ratings raised Egypt&#8217;s credit outlook from stable to positive on 18 March, weeks after the government decided to enforce a long-awaited free-floating currency exchange regime. “[The decision] reflects our view that the determination of the exchange rate via market forces will help drive GDP growth and over time support the government’s fiscal consolidation plan,” S&#38;P explained. Despite the lift, the credit rating agency affirmed its current rating of Egypt at B-, placing it six notches into junk status, similar to El Salvador and Ecuador. &#8220;We view the exchange rate liberalization, coupled with Egypt’s commitment to ambitious budgetary consolidation targets, as a crucial step in bolstering confidence and fostering growth in Egypt&#8217;s economy and its debt sustainability,&#8221; wrote S&#38;P analysts Trevor Cullinan and Ravi Bhatia wrote in a statement reported by Bloomberg. The positive outlook arrived after forecasts indicated that a market-driven foreign exchange rate will stimulate growth and, in the long run, support the government&#8217;s efforts to restabilize its fiscal conditions. Furthermore, ongoing funding from international organizations like the International Monetary Fund (IMF), European Union (EU), and World Bank Group (WBG) is expected to significantly<a href="https://egyptianstreets.com/2024/03/19/sp-raises-egypts-credit-outlook-from-stable-to-positive/">Continue reading <span class="sr-only">"S&#038;P Raises Egypt’s Credit Outlook From Stable to Positive"</span></a></p>
<p>The post <a href="https://egyptianstreets.com/2024/03/19/sp-raises-egypts-credit-outlook-from-stable-to-positive/">S&P Raises Egypt’s Credit Outlook From Stable to Positive</a> first appeared on <a href="https://egyptianstreets.com">Egyptian Streets</a>.</p>]]></description>
										<content:encoded><![CDATA[<p>Standard and Poor’s (S&amp;P) Global Ratings raised Egypt&#8217;s credit outlook from stable to positive on 18 March, weeks after the government decided to enforce a long-awaited free-floating currency exchange regime. “[The decision] reflects our view that the determination of the exchange rate via market forces will help drive GDP growth and over time support the government’s fiscal consolidation plan,” S&amp;P explained. Despite the lift, the credit rating agency affirmed its current rating of Egypt at B-, placing it six notches into junk status, similar to El Salvador and Ecuador. &#8220;We view the exchange rate liberalization, coupled with Egypt’s commitment to ambitious budgetary consolidation targets, as a crucial step in bolstering confidence and fostering growth in Egypt&#8217;s economy and its debt sustainability,&#8221; wrote S&amp;P analysts Trevor Cullinan and Ravi Bhatia wrote in a statement reported by Bloomberg. The positive outlook arrived after forecasts indicated that a market-driven foreign exchange rate will stimulate growth and, in the long run, support the government&#8217;s efforts to restabilize its fiscal conditions. Furthermore, ongoing funding from international organizations like the International Monetary Fund (IMF), European Union (EU), and World Bank Group (WBG) is expected to significantly&#8230; </p>
<div class="pmpro_content_message">This content is for members only. Visit the site and log in/register to read.</div><p>The post <a href="https://egyptianstreets.com/2024/03/19/sp-raises-egypts-credit-outlook-from-stable-to-positive/">S&P Raises Egypt’s Credit Outlook From Stable to Positive</a> first appeared on <a href="https://egyptianstreets.com">Egyptian Streets</a>.</p>]]></content:encoded>
					
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			<slash:comments>2</slash:comments>
		
		
		<address><a>Shereif Barakat</a></address><post-id xmlns="com-wordpress:feed-additions:1">91580</post-id>	</item>
		<item>
		<title>Egypt&#8217;s Private Sector Decline Slows Down: S&#038;P Global PMI</title>
		<link>https://egyptianstreets.com/2023/07/05/egypts-private-sector-decline-slows-down-sp-global-pmi/</link>
		
		<dc:creator><![CDATA[Shereif Barakat]]></dc:creator>
		<pubDate>Wed, 05 Jul 2023 13:48:12 +0000</pubDate>
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		<guid isPermaLink="false">https://egyptianstreets.com/?p=86371</guid>

					<description><![CDATA[<p>Egypt&#8217;s non-oil private sector Purchasing Managers’ Index (PMI) increased to 49.1 in June, marking the highest level since August 2021, according to a report published by Standard and Poor&#8217;s (S&#38;P) Global. The Purchasing Managers Index (PMI) is an economic indicator that assesses the non-oil business conditions of a country by measuring various factors including production, employment, logistics, and trade. When the PMI score is below 50, it indicates a contraction in business conditions, while a score above 50 signifies an expansion. Despite Egypt’s positive developments, June’s score of 49.1 reveals a continuing deterioration in the country’s non-oil private sector – remaining below the 50 threshold. “Egypt&#8217;s non-oil private sector economy remained under pressure at the end of the second quarter of 2023, with the PMI once again signalling a deterioration in business conditions,” reads S&#38;P’s report. The report also highlighted that production output and new orders for goods and services experienced moderate declines, whereas inflationary pressures cooled down to a 16-month low. The cited causes for the continuing decline include price pressures, liquidity concerns, and weak export demand. “Despite positive directional movements in a number of sub-indices, business confidence fell<a href="https://egyptianstreets.com/2023/07/05/egypts-private-sector-decline-slows-down-sp-global-pmi/">Continue reading <span class="sr-only">"Egypt&#8217;s Private Sector Decline Slows Down: S&#38;P Global PMI"</span></a></p>
<p>The post <a href="https://egyptianstreets.com/2023/07/05/egypts-private-sector-decline-slows-down-sp-global-pmi/">Egypt’s Private Sector Decline Slows Down: S&P Global PMI</a> first appeared on <a href="https://egyptianstreets.com">Egyptian Streets</a>.</p>]]></description>
										<content:encoded><![CDATA[<p>Egypt&#8217;s non-oil private sector Purchasing Managers’ Index (PMI) increased to 49.1 in June, marking the highest level since August 2021, according to a report published by Standard and Poor&#8217;s (S&amp;P) Global. The Purchasing Managers Index (PMI) is an economic indicator that assesses the non-oil business conditions of a country by measuring various factors including production, employment, logistics, and trade. When the PMI score is below 50, it indicates a contraction in business conditions, while a score above 50 signifies an expansion. Despite Egypt’s positive developments, June’s score of 49.1 reveals a continuing deterioration in the country’s non-oil private sector – remaining below the 50 threshold. “Egypt&#8217;s non-oil private sector economy remained under pressure at the end of the second quarter of 2023, with the PMI once again signalling a deterioration in business conditions,” reads S&amp;P’s report. The report also highlighted that production output and new orders for goods and services experienced moderate declines, whereas inflationary pressures cooled down to a 16-month low. The cited causes for the continuing decline include price pressures, liquidity concerns, and weak export demand. “Despite positive directional movements in a number of sub-indices, business confidence fell&#8230; </p>
<div class="pmpro_content_message">This content is for members only. Visit the site and log in/register to read.</div><p>The post <a href="https://egyptianstreets.com/2023/07/05/egypts-private-sector-decline-slows-down-sp-global-pmi/">Egypt’s Private Sector Decline Slows Down: S&P Global PMI</a> first appeared on <a href="https://egyptianstreets.com">Egyptian Streets</a>.</p>]]></content:encoded>
					
		
		
		<address><a>Shereif Barakat</a></address><post-id xmlns="com-wordpress:feed-additions:1">86371</post-id>	</item>
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