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Egypt Ranking In International Reports

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International  institutions ’  praise  confirms  the  soundness  of  economic  policies,  which  reflects  the  confidence  of  the  international  community  in restoring the stability of  the Egyptian economy. In addition to the ranking improvement of  the Egyptian economy in the international credit-rating agencies, and the expectations of  the financial institutions with regard to future growth rates in Egypt. These international reports contribute to strengthening foreign investors’ confidence in the Egyptian economy, which would lead to pumping more investments during the coming period.



Doing Business 2019 Report


The  World  Bank  (WB)  and  IFC  announced  that  Egypt ' s  ranking  jumped  8 places on Doing Business 2019: " Training for Reform " . The Report tackled the reforms Egypt undertook to enhance the investment climate and simplify the procedures in five (5) fields: companies incorporation, getting credit, protecting small investors, paying taxes, and resolving insolvency (to exit the market) in order    to    create    jobs,    attract    investments,    and    increase    the    economy competitiveness. The Report mentioned that such reforms were the largest to be implemented in Egypt within one year in the previous ten years, and second  largest  to  be  implemented  by  a  MENA  country  this  year.  Moreover, Egypt witnessed the largest   number of  reforms compared to the other Arab countries.



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 The Global Competitiveness Report 2018:

The Global Competitiveness Report 2018 of  the World Economic Forum revealed that Egypt is ahead of  46 countries in 2018, up from just 37 countries in 2017. The current year report followed a new methodology in which human capital, openness, innovation, and the ability to achieve
better  social  results, the  level  of   satisfaction,  are  more  important.Egypt ' s highest ranking is in the innovation indicator where it went up 45 global ranks. In the infrastructure indicator, Egypt ' s rankings rose 15 ranks to be the 56 th this year, after it was the 71 st  globally. This is the result  of  the  focus  on  large-scale  infrastructure  development  projects, including  the  new  Suez  Canal  and  the  New  Administrative  Capital, which  lead  the  world  to  admit  such  efforts, in  addition  to  Egypt ' s investments in infrastructure. Egypt ' s ranking improved 4 ranks in labor market efficiency from the last year. All thanks are to new investments, and the private sector ' s investments which contributed to the provision of  jobs for youth and women. Moreover, Egypt ' s ranking increased in the market size indicator  to be the 24 th globally due to the human power it is known for.



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Rand Merchant Bank Selects Egypt as the Best Country for Investment in 2019:


 Within the context of the eighth edition of "Where to Invest in Africa" report, Rand Merchant Bank (RMB) selects Egypt as the best country in Africa for investment in 2019, for the second year respectively. Egypt maintained its ranking in the top 10 countries for investment in Africa. The RMB report said that Egypt is an attractive country for investment since it is the largest market in Africa when it comes to the growth domestic production (GDP). Moreover, Egypt is known for the largest investment market in MENA region.


OECD Upgrades Egypt ' s Ranking in Country Risk Classification Index:


 In February 2019, the Organization for Economic Cooperation and Development (OECD) upgraded Egypt ' s ranking in the Country Risk Classification to five (5). OECD mentioned in its statement   that investment risk in Egypt downgraded from six (6) to five (5). OECD attributed the progress achieved and Egypt ' s ranking upgrade to the reforms implemented by the Egyptian government. Such reforms contributed to the enhancement of  the investment climate and the provision of  supportive  environment  for  investment  and  business.  OECD  revealed  that  the  upgrade  of  Egypt's ranking would help to attract more FDI inflows from Europe. It worth mentioning that among 201 countries in OECD's Country Risk Classification Index, only four countries: Egypt, Albania, Kazakhstan and Uzbekistan have improved their ranking.


Fitch Ratings:


Fitch Ratings affirmed Egypt ' s long-term foreign currency credit rating at " B " while maintaining its credit outlook " positive " , which reflects  Egypt ' s  positive  outlook  on  a  number  of  credit  ratings  as  a  result  of  Egypt ' s  Economic  Reform  Program.  Fitch  Ratings changed Egypt ' s credit Ratings with regard to the long-term foreign currency Issuer Default Ratings (IDR) from " B " to " B+ " .


Moody ' s Corporation for Credit Rating:


" Moody ' s " credit rating agency upgraded Egypt ' s sovereign rating, it mentioned that the economic reforms contributed to enhance Egypt ' s fiscal position and stimulate its economic growth. The agency also upgraded Egypt ' s long-term foreign and local currency issuer ratings from B3 to B2, and changed its future outlook from positive to stable.


 Standard and Poor ' s:


Standard and Poor ' s (S&P) credit rating agency upgraded Egypt ' s sovereign rating from " -B " to " B " . According to S&P Report 2018, it mentioned that Egypt ' s progress to implement the structural reforms contributed to enhance investments and the GDP. S&P also cited that the structural reforms in Egypt aim at achieving and maintaining the macroeconomic stability and stimulate growth, along with  other  factors  that  helped  prompting  Egypt ' s  current  account  deficit,  including  having  competitive  exchange  rate,  increasing domestic gas production, and rising exports .



last update July 2019