The Arab Steel Summit held

George Matta, chairman of the Economic Committee of the Arab Steel Association, head of the Ezz Group's marketing sector, said Egypt is the largest steelmaker in the Arab region and North Africa. Growth rates are expected to reach 5.8% next year. George Matthew spoke about the steel and construction sector at the Arab Steel Summit in Tunisia.

The Chairman of the Economic Committee of the Arab Steel Federation pointed out in the study report taken on the eve of the recent Arab Steel Summit in Tunisia, with the participation of the Tunisian Ministry of Industry and large Arab companies, as well as foreign experts in the steel sector, that the decision taken by the Egyptian government and special fees together with the introduction of protective fees on pallets and iron. From $7 to $5.5 per million, it contributed greatly to the improvement in the volume of demand and the decline in inventories to the lowest level, which means expecting consumption volume to grow in 2020.

It is being encouraged by new investments and major national projects implemented by the Egyptian government.

In the Middle East and North Africa region, the Chairman of the Economic Committee stressed that the Middle East and North Africa are expected to register a growth of 0.6 percent by the end of this year. That percentage increased to 2.6 percent next year in 2020. The Committee highlighted the importance of reforms in the wake of political turmoil in some Arab countries, including Algeria, Libya, Yemen, Iraq and Lebanon, to ensure fair competition and promote inclusive growth.

George Matta, chairman of the Economic Committee, stressed that demand for steel products in 2018 was affected by deflation, estimated at 43 million tonnes with a contraction of 0.8%. George Matthew estimates steel consumption volume in the Middle East and North Africa region, a contraction of 7% from last year due to declining demand in most Arab countries.