Egyptian Planning Minister Ashraf Al-Araby asserted that building and construction sectors are the most important that will witness a great boom within the upcoming period as result of the announcement of several national projects, the investment rates of these sectors increased and the economic indexes revealed that the two sectors grow by 4.9% within the first quarter of this year from the previous year.
The Minister added in a keynote speech second session at ‘Builders of Egypt’ Conference Cairo on Tuesday that the ongoing government is keen on supporting the Construction companies to contribute in completing the expected projects and implementing new projects throughout paying around EGP2.5 billion during the last fiscal year as arrears for the companies.
It is expected that the economic growth rates will increase 3.5% to 3.8% as result of the high growth rates of the manufacturing operations and construction of the Suez Canal, which contribute in boosting rates of building and construction sectors, Al-Araby noted.
Moreover, the Minister asserted that the unemployment rates declined to 13.1% in the first quarter of 2014/2015 in compared to 13.3% during the last quarter of 2013/2014, noting that the country has a great challenge to overcome unemployment rates.
