Cabinet meeting highlights Moody's upgrading of Egypt credit rating

The Egyptian Cabinet held its weekly meeting under Prime Minister Ibrahim Mahlab on Wednesday.
The ministers highlighted a report by international Moody's International Institution upgrading the credit rating of Egypt to B3.
The move attests to a clear improvement of the national economy performance, said Minister of Finance Hany Qadry at the meeting.
Moody's issued its report in light of the improvement of the macro economic indicators and economic stimulating sectors such as telecommunications, construction and intermediary industries, he said, underlining also an improving security situation in Egypt.