Boston, MA -- (SBWIRE) -- 06/20/2014 -- Despite growing concerns over weakness in the broader Angolan economy, we are maintaining our positive outlook for growth in the country's construction sector , which continues to report strong activity . The FY 2014 budget allocates one- third of its US D 55bn in spending to infrastructure and social projects and complements the 2013-2017 National Development Plan which is running concurrently. Investment across the housing and the utility sectors in particular is driving our forecast for 11.9% average annual real construction industry growth between 2014 and 2018.
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Angola's construction industry is expected to be boosted by a combination of government investment, as part of a drive to develop infrastructure to support economic diversification and a strong expansion in oil production and therefore revenue. We do, however, remain concerned over budget execution levels, which, given the sheer level of government investment supporting our growth outlook, could see activity underperform.
Against this backdrop, continued investment from China, Brazil and Portugal will be crucial to support infrastructure projects. The former two in particular have provided significant levels of funding to support investments through state-owned development banks - with Brazil announcing USD2bn in loans for the Lauca hydropower project in April 2014. With oil exports to the US falling, China will become an increasingly crucial partner for Angola in order to maintain strong oil revenue as production continues to grow domestically.
Key elements driving our positive forecast
- The FY2014 budget outlines spending of USD55bn, of which a third will be targeted towards infrastructure and social projects - such as healthcare, education and housing. The budget is a modest increase from 2013 levels (USD49.9bn), however it maintains the elevated level of spending versus 2012 (which was 60% lower than 2013). Increase oil revenue from production growth and elevated oil prices...
The Angola Infrastructure Report features Business Monitor International (BMI)'s market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.
BMI's Angola Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Angolan infrastructure and construction industry.
- Benchmark BMI's independent infrastructure industry forecasts for Angola to test other views - a key input for successful budgetary and planning in the Angolan infrastructure market.
- Target business opportunities and risks in the Angolan infrastructure sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Angola.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis covering infrastructure and construction, regulatory changes, major investments and projects and significant multinational and national company developments.
These are broken down into Construction (social, commercial and residential), Transport (roads, railways, ports, airports etc), and Energy & Utilities (powerplants, renewable projects, pipelines and so on).
Analysis of latest projects across the infrastructure sector (covering the transport, utilities and commercial construction sub-sectors) - including:
Market Overview:Analysis of the key elements driving developments, including evaluations of current capacity and future requirements.
Building Materials Overview
The building materials overview provides industry trend analysis on the global and regional demands for building materials and the impact of this on the emerging and developed markets.
Business Environment Ratings
BMI's Infrastructure Business Environment Ratings provide a country-comparative Risk-Reward Ratings index aimed at investors (construction companies, suppliers and partners) in the regional infrastructure market.
The ratings methodology makes sophisticated use of over 40 industry, economic and demographic data point.
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