Egypt sets out on a new course

Published 05 September 2016

President Abdel Fattah al-Sisi has managed to return a certain degree of stability to Egypt, with the economy expected to show a gradual recovery. A broad infrastructure programme and robust housing demand is providing the foundation for a strong growth in construction, while the government is calling for the cement industry to increase its capacity.

The urgent need to expand Egypt's inrastructure and deal with the considerable housing

shortage are expected to drive cement demand for the forseeable future

[Copyright: slowcentury]

Egypt’s Minister of Finance, Amr El-Gahry, is in no doubt that the country’s route to a strong economic recovery depends on infrastructure spending. “Egypt’s infrastructure projects in the last two fiscal years are the cornerstone of the recovery of the Egyptian economy. The GDP has already shown signs of recovery, rising from 2.2 per cent in FY13-14 to 4.2 per cent in FY14-15,” he said in July 2016.

“The government targets a GDP ratio [growth] between six and seven per cent in the upcoming period by finding solutions in the different economic sectors, especially the investment section, and increasing the availability of foreign currency,” he added.

To continue reading this story and get access to all News, Articles and Video sections of the website, please Register for a subscription to International Cement Review or Login