New Market Research Report: Venezuela Infrastructure Report 2014
BMI View: We have revised down our forecasts to reflect a more aggressively deteriorating environment in Venezuela's construction sector. Although we anticipated a substantial decline in industry growth in 2013, we are now estimating a recession for the year, which we believe will persist until 2015. High input costs, a weakening government fiscal position and an unattractive environment for private investors mean there will be few sources of growth for the industry until fundamental economic and political changes take place.
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