Indonesia Infrastructure Report Q1 2014 - New Study Released
As expected, quarterly data on Indonesia's construction sector was supportive of our view that there is limited scope for construction growth in 2013 and 2014 to outperform its 2012 level. Furthermore, the downside risks we had previously highlighted - namely a deepening fiscal deficit (brought on by ballooning subsidies), rising inflation, bottlenecks in project execution and the 2014 presidential elections -are manifesting and are set to adversely affect near-term construction activity. As such, we have revised down our construction growth...
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