Moody’s investors service says Egypt’s commitment to economic reforms in cooperation with the World Bank and improvements in the private sector’s access to credit will increase the Growth Domestic Product by 5.5 percent in 2019 and 6 percent by 2021.
Moody adds that macroeconomic and fiscal reforms the government of Egypt has implemented in collaboration with the World Bank since November 2016 have moved the economy towards growth path.
The rating agency also adds that the completion of reforms on energy subsidies will increase the general government primary surplus in the fiscal year 2019/2020.
