(MENAFN- Kuwait News Agency (KUNA)) CAIRO, May 4 (KUNA) -- Egyptian Finance Minister Mohammad Maait said Saturday his country's economy is now well-placed to fulfill future financing needs amid tough regional and international challenges due to Europe war, war on Gaza and Red Sea tensions.
The minister's remarks came after Fitch Ratings had revised the Outlook on Egypt's Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to Positive from Stable, and affirmed the IDR at "B-".
He vowed that his country would keep doing well to improve the country's credit rating during the next reviews before the end of this year, according to a press release issued by the Egyptian Ministry of Finance.
"The Egyptian economy is gradually starting to regain international rating agencies' confidence through a more incentive track towards more positive and stable horizons by adopting reformed, developed, integrated and sustainable economic policies," he said.
However, the minister reiterated the Egyptian government's commitment to rejuvenating productive, industrial and export sectors to achieve all-out and sustainable development. (end)
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