The Fitch report also forecasted that in the medium-term run, Egypt’s privatization drive will increase the scope for private sector participation in the country’s infrastructure sector and support construction growth
The Egyptian government is taking serious steps to curb inflation, increase local production and exports, reduce reliance on imports, and bolster both foreign investment and foreign exchange reserves, it added on its official website.
In a statement, the IDSC said that Fitch Solutions expected Egypt's construction sector to grow by 11 percent on an annual basis in 2022.
In its report, Fitch said the production of Egypt's petrochemicals sector reached 3.34 million tons during the FY 2020/2021, noting that this sector has achieved a growth in revenues by 50 percent on yearly basis according to the latest data of the Egyptian Petroleum and Mineral Wealth Ministry.
Fitch Agency praised in its report the positive performance of the consumer sector in Egypt,
Egypt’s Cabinets highlighted in an infographic according to the latest Fitch Solutions report for the fourth quarter of 2020.
The Organization of the Petroleum Exporting Countries and its allies are expected to meet on Thursday — a delay from Monday — in an attempt to agree on production cuts.