In the IT services and software sectors, an average growth of 16 percent per year is expected. A corresponding increase of 11.3 percent in IT equipment is forecast. The whole IT industry market could reach $1.6 billion in 2022, compared with approximately $0.9 billion in 2018.
"In the telecommunications sector, however, growth prospects are rather subdued," reads the report. "Market experts expect average growth of 3% per year by 2022. The lack of liberalization in the sector, especially in the fixed network, and a decline in the population’s purchasing power in recent years are hampering higher growth."