Moody’s
The growth in earnings is driven by 11 percent lending growth and a rising interest rate environment
The rating reflects the government's significant progress in implementing a broad-based reform agenda since 2016
Solid budget and financial buffers, but reforms needed to reduce oil dependence
Non-oil economic growth in Bahrain is projected to remain stable at 3.2 percent
The agency also affirmed Egypt's foreign-currency senior unsecured ratings at Caa1
Ratings reaffirm financial resilience and strategic importance within national economy
Egypt's overall classification was affirmed at Caa1 in October 2023
OPEC maintains 2.25 mn bpd demand growth forecast
Difficulties securing affordable financing currently, given the country’s strict monetary policy and credit rating
IMF warned of "fiscal and external sustainability risks" from "large" budget law expansion
Rating highlights a negative real GDP growth of 2.6 percent in 2022
Gold prices increased 0.42 percent during Sunday's Asian trading session
