Egypt’s stock market is gearing up for a promising week as investors return from the 6th of October break, buoyed by Standard & Poor’s upgrade of Egypt’s sovereign credit rating and solid foreign inflows that lifted the EGX to close last week in positive territory.
The EGX30 index gained 0.75% on Wednesday, October 8, ending at 37,376.93 points — its strongest level in weeks — with total market capitalization hitting EGP 2.64 trillion. Non-Arab foreigners were net buyers of EGP 25.1 billion, while Egyptians and Arabs took profits.
Late on Friday, October 10, S&P raised Egypt’s rating from B− to B with a stable outlook, citing the government’s “credible fiscal consolidation efforts” and a primary budget surplus of 3.5% of GDP in FY2025. The agency highlighted Egypt’s progress in stabilizing its macroeconomic framework, while noting that reducing debt-servicing costs remains a key challenge.
Analysts expect the upgrade to trigger renewed institutional and Gulf investor interest in blue-chip and banking stocks, with the EGX likely to test the 38,000-point resistance early in the week. “This is a decisive vote of confidence in Egypt’s reform path,” said Hany Genena, economist and former Pharos Holding head of research. “We’re likely to see sustained momentum through October.”
As Egypt balances tighter fiscal discipline with structural reform, markets are signaling optimism that the country’s next IMF review and ongoing privatization drive could attract deeper investment inflows — setting up the final quarter of 2025 as one of measured confidence and renewed growth.
