Recently Released Market Study: Egypt Infrastructure Report Q2 2012
While the 4.1% year-on-year (y-o-y) real growth we estimate took place within Egypt's construction sector in 2011 can be viewed as relatively positive, it does not reflect the underlying problems facing the sector. Although the swift resumption of stalled projects following the revolution ensured positive growth in 2011, persistent investor uncertainty and constraints on government capital expenditure have diminished project pipelines. We expect the government's fiscal problems to remain a major drag on growth. However, the potential for a stabilising...
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