Egypt’s Ministry of Finance plans to accelerate the reduction of debt service costs following a credit rating upgrade by Moody’s to “B3” with a positive outlook. The ministry stated on Tuesday that recent fiscal reforms have stabilized public finances and increased economic activity. Officials noted that government debt fell to 81.9% of gross domestic product by June 2026, while net international reserves reached $57 billion in September.
The government attributes the improved rating to sustained fiscal discipline and stronger economic growth. Tax revenues have risen to 13% of GDP, an increase of 1.6% over two years. The ministry aims to maintain this trajectory by simplifying business procedures and encouraging private investment. These measures are designed to provide additional fiscal space for spending on health, education, and social protection programs.