Egypt Construction Market Report 2Q 2024
Economic overview
Dashboard
Figure 1
Quarterly values are average values of parameters over each quarter.
Data obtained from www.tradingeconomics.com, www.cbe.org.eg, www.egx.com.eg and www.investing.com.
Egyptian pound (EGP) to US dollar (USD)
During 2Q 2024, the average value of USD against EGP increased, recording an average of EGP 48 due to the devaluation that took place during March 2024. Expectations are that the USD exchange rate will remain stable against the EGP in the next quarter.
EGP to euro (EUR)
During 2Q 2024, the EUR exchange increased against the EGP, recording an average of EGP 52 due to the EGP devaluation. The value of the Euro exchange rate is expected to be stable against the EGP in the next quarter.
EGP to British pound sterling (GBP)
During 2Q 2024, the GBP exchange rate increased against the EGP, recording an average of EGP 60 due to the EGP devaluation. Forecasts suggest that the value of the GBP exchange rate will be stable against the EGP in the next quarter.
Marassi Resort — Gleeds provided Quantity Surveying/Cost Management services.
Egyptian stock market
Data obtained from www.investing.com.
The EGX 30, the Egyptian stock market indicator, measures the performance of the top 30 traded companies on the Egyptian stock exchange. During 2Q 2024, the EGX30 indicator decreased, recording an average of 26,937.34 points.
Central bank interest rates
Consumer price index (CPI)
From www.tradingeconomics.com.
The Central Bank of Egypt (CBE) makes decisions regarding interest rate values. The official interest rate is the overnight deposit rate. During 2Q 2024, the interest rate remained stable and it is also expected to remain stable during the next quarter.
From www.tradingeconomics.com.
The CPI measures the increase in prices consumers pay for everyday goods and services. During 2Q 2024, CPI increased to an average of 219 points compared to 208 index points in the previous quarter. Forecasts indicate a decrease in the index in the next quarter.
Foreign exchange reserves
The CBE reports Foreign Exchange Reserves in Egypt, these are the foreign assets held or controlled by it. The reserves are generally used to finance the balance of payments and to control exchange rates. During 2Q 2024, Egypt's foreign exchange reserves increased, recording an average of USD 45 billion. Foreign Exchange Reserves are expected to gradually increase in the next quarter.
From www.tradingeconomics.com.
Almaza City Centre, Cairo — Gleeds provided Quantity Surveying/Cost Management services.
