March 23, 2020 / 9:55 AM / 11 days ago

BRIEF-Fitch Says Coronavirus Hits Egypt's External Accounts

March 23 (Reuters) - Fitch Ratings:

* CORONAVIRUS HITS EGYPT’S EXTERNAL ACCOUNTS

* CORONAVIRUS SHOCK WILL AFFECT EGYPT’S EXTERNAL FINANCES, GDP GROWTH AND FISCAL PERFORMANCE

* ON EGYPT SAYS CORONAVIRUS SHOCK WILL PROBABLY LEAD TO SUBSTANTIAL PORTFOLIO INVESTMENT OUTFLOWS FROM LOCAL-CURRENCY DEBT MARKET

* EXPECT EGYPTIAN GOVERNMENT’S FISCAL CONSOLIDATION EFFORTS TO FALTER IN NEAR TERM, GIVEN WEAKER ECONOMIC GROWTH AND REVENUE COLLECTION Source text for Eikon:

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