Hungary Infrastructure Report Q4 2014 - New Market Report

The election victory of Fidesz party in April provides continuity in Hungarian policy making, which will support the economic growth. Macroeconomic growth coupled with strong public investment and supported by the E U funding will result in a short-term boost in infrastructure development. As a result BMI forecasts the construction industry will grow 16.3% in 2014 and another 8.1% in 2015. However, mounting fiscal pressures add a downside risk to BMI 's outlook.

Hungary's construction sector is booming off the back of strong public investment and EU funding, and BMI expects the construction sector to grow by 16.3% in 2014 and further 8.1% in 2015. Exceptionally strong growth in Hungary's construction sector is not expected to continue beyond 2015 as we expect a rising fiscal deficit to necessitate a draw back in public investment. Between 2016 and 2023, we expect construction sector real growth to average 2.4% per year.

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Key Trends And Developments

* We expect to see broad policy continuity from the Hungarian government, that is to say the country's policy making will remain erratic, following an overwhelming victory for the governing centre-right Fidesz party in the April 6 general election. We do not expect to see any shift in the government's policy stance in the months or years ahead, with Prime Minister Viktor Orban's programme of placing punitive taxes on publicly unpopular industries, such as banking, utilities and telecommunications, continuing to garner widespread support. Increasing fiscal deficit and the EU threatening to withhold some of the key structural funds place downside on the Hungarian outlook.
* Growth in the energy sector will primarily come from the oil and gas subsector and consequently the energy sector will expand at an average rate of 5% per annum over 2013-2023. The growth will be particularly pronounced in 2014, as a result of the new Hungary-Slovakia gas pipeline coming online. Increased government...

The Hungary 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 Hungary Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Hungarian infrastructure and construction industry.

Key Benefits

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