Egypt's upgraded outlook means economic programme successful

Egypt's economic program is obviously successful, an adviser to the country's planning minister could tell after International credit ratings agency Moody's upgraded Egypt's outlook to stable from negative.
Moody's decision will sure have a positive effect on the national economy, said Nihal el-Megharbel on the sidelines of a conference to announce the outcome of Egypt's economic census Tuesday.
Local and foreign businesspeople would sure take note of this improvement, Megharbel said, expecting the flow of investment to increase.
Moody's decision was based on improved political stability, fiscal consolidation and signs of growth recovery.
A delegation of the World Bank will visit Egypt by the end of the year to assess the economic performance, Megharbel said.
Hopefully, the assessment would be favorable, she said.