30
May
10:43
GCC budget adjustment to hamper construction: Deloitte
The need for Gulf Cooperation Council governments to adjust their budgets in response to lower oil prices will negatively impact the projects market, according to Deloitte. This will result in slower tender processes, slower decisions and payment procedures.
Saudi Arabia, the largest construction market, is planning to reduce spending -11% on-year to $227 billion in 2016. Privatisation of government services to encourage private sector investments has been annou…
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Anonymous
Very good overview of the weekly steel market.
Anonymous