Market Report, "Venezuela Infrastructure Report 2013", Published
BMI View: We expect growth to decline sharply in 2013 and to continue to deteriorate over our forecast period. Our 5% construction industry real growth forecast for 2013 is partly due to base effects from exceptionally strong growth in 2012 (estimated at 15.8%), but is also due to the continuation of economic and policy mismanagement represented by the re-election of Hugo Chavez. Consequently, we believe the government will struggle to finance high value projects such as the social housing programme,...
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