BMI View: Egypt’s IT market has a bright medium-term outlook but is facing constraints in 2013 as fiscal consolidation, currency depreciation and credit shortages limit spending. However, even in this difficult climate, we expect overall spending to grow, and increase as a share of GDP. Market fundamentals support growth momentum, with low penetration of products and services in the retail and enterprise market meaning there is significant untapped potential. Further, the government’s ICT strategy is supportive of the market, with initiatives such as tablets for education and promotion of Egypt as an outsourcing destination boosting development. We forecast IT market …
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