Standard & Poor's Global Ratings agency, S&P Global, has revised its expectations for Egypt's current account deficit and foreign exchange resource flows due to the pressures of the conflict.
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The global credit rating agency Standard & Poor's (S&P) Global revised its expectations for Egypt's current account deficit - foreign exchange resource flows - due to the pressures of the conflict in the Middle East. According to a report on Egypt today, the agency raised its estimates for the current account deficit to 4.8% of GDP for the fiscal year ending June 30, 2026 (fiscal year 2025/2026), compared to the 4.1% it forecast in October 2025. Standard & Poor's kept its credit rating for Egypt at B with a stable outlook amid potential pressures from the ongoing conflict on the Egyptian economy while Egypt possesses the elements to face external shocks. The agency estimated the outflows of foreign capital - hot money in local treasury bills - to be around $10 billion within a month of the start of the conflict. According to the report, the prolonged regional crisis due to the conflict in the region may lead to a weakening of remittances from Egyptians working abroad - about 70% ...