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Fitch: Egypt's Budget, Energy Price Rises Show Fiscal Commitment 

 

Fitch Ratings-Hong Kong/London-12 July 2017: Egypt's new budget and lower electricity and fuel subsidies demonstrate a continued commitment to fiscal consolidation and economic reform, backed by the country's IMF programme, Fitch Ratings says. Narrowing the fiscal deficit supports Egypt's sovereign credit profile, but significantly reducing the public debt ratio is a multi-year task.

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