Standard & Poor’s: raised Egypt’s expectations to positive thanks to the strong external support program

Written by Muhammad Sharqawi

Monday, March 18, 2024 11:36 PM

Extra News Channel reported in breaking news that Standard & Poor’s expects to raise Egypt’s expectations to positive thanks to the strong external support program.

The channel also reported that the positive expectations reflect the view that recent economic decisions will help boost Egypt’s gross domestic product.

International newspapers highlighted the partnership between Egypt and the European Union, as President Abdel Fattah El-Sisi received yesterday, Sunday, the President of the European Commission, the Prime Minister of Belgium, President of the European Union, the Prime Minister of Greece, the Chancellor of Austria, the President of Cyprus, and the Prime Minister of Italy.

The newspaper quoted President Abdel Fattah El-Sisi as saying during the summit held yesterday in Cairo, which was attended by a number of European leaders, that “the path to upgrading relations between Egypt and the European Union was accompanied by a financial package to support the Egyptian economy, and this package, amounting to about 7.4 billion euros, consists of three components.” The main objectives are concessional financing, investment guarantees, and technical support for the implementation of bilateral cooperation projects.

The Spanish newspaper La Tercera commented, saying, “This partnership and the agreements concluded will strengthen Egyptian-European relations in due course.”

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