Construction materials slow 40 percent
The construction materials market in Egypt is experiencing a slowdown of approximately 30 to 40%, driven by decreased demand due to a decline in government projects, difficulties in obtaining building permits, and rising prices of steel and cement. Steel factories are currently operating at 30-50% of their production capacity and are facing significant losses, with some plants resorting to offering credit facilities to boost sales. Additionally, experts anticipate a future decline in steel and construction material prices as demand remains weak and the number of permits continues to fall.
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