Indonesia Infrastructure Report Q4 2013 - New Market Research Report
As expected, Q113 data on Indonesia's construction sector had supported 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 deficit (brought on by ballooning subsidies), rising inflation, bottlenecks in project execution and the 2014 presidential elections - are starting to manifest and could adversely affect near-term construction activity. As such, we have revise down our construction growth forecasts...
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