Argentina Infrastructure Report - Business Monitor International - Industry Reports

Argentina Infrastructure Report

Argentina Infrastructure Report - Business Monitor International - Industry Reports
Argentina Infrastructure Report
Published Aug 27, 2016
52 pages — Published Aug 27, 2016
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Abstract:

We expect Argentina s construction industry to contract by -.- in real terms in ----, as market uncertainty and rapid inflation take their toll on residential and non-residential construction. From ---- onwards the business friendly reforms of President Mauricio Macri will begin to take hold, driving investment into infrastructure, especially the power and energy sectors. ...China will continue to be a major source of financing for Argentina, with the Argentine national news agency, Telam, reporting that over the course of H--- China had agreed to USD--bn in financing for infrastructure development over the next five years. Multilateral development banks will also provide much needed financing, with the Macri government securing a USD-bn loan from the Development Bank of Latin America, CAF, for his Plan Belgrano - an infrastructure development plan targeting northern provinces - in May ----. We also note that we have revised our construction data back to ---- this quarter in line with major changes in data reported from national statistics agency INDEC. ...We also note that we have revised our construction data back to ---- this quarter in line with major changes in data reported from national statistics agency INDEC. The agency is currently undergoing a major overhaul under the auspices of the new administration, after years of reporting data that was widely considered unreliable.

...We are optimistic that the comprehensive reform agenda of the Macri administration will be able to spur investment and return the construction industry to growth from ----. Reforms will need to address structural and institutional issues that have long constrained the real impact of public sector spending and thwarted private sector participation in the infrastructure industry. ...Reforms will need to address structural and institutional issues that have long constrained the real impact of public sector spending and thwarted private sector participation in the infrastructure industry. Erratic policymaking during the government of President Kirchner, particularly in her second term, in addition to poor macroeconomic performance, resulted in a rapid decline of private investment in Argentina s infrastructure. Capital controls, import restrictions, recurring nationalisations and high inflation in recent years have considerably weakened the country s business environment. ...While we see ---- as a period of economic adjustment as reforms are rapidly implemented, from ---- onwards we expect strong growth, driven by infrastructure investment, especially in the power sector. Major multilateral lenders, including the World Bank s IFC, CAF, and the IADB are already extending additional

...As a result, residential construction will fall as the average Argentine household s real purchasing power falls with the Argentine Peso. ...Additionally public sector investment, while expected to improve dramatically over the multi-year horizon, will be muted in ----. This is largely due to a large personnel turnover at key agencies and increased lag times as agreements and contracts are revisited under the new administration. Thus far, high-frequency indicators point to a severe contraction for ----, with gross value added in the construction industry reported at --.- y-o-y in Q- and the Construction Industry Activity Index averaging --- growth through the first six months of the year (see chart below). ...

  
Source:
Document ID
1752-525X
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Argentina Infrastructure Report" Aug 27, 2016. Alacra Store. Dec 09, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Argentina-Infrastructure-Report-2026-381>
  
APA:
Business Monitor International - Industry Reports. (2016). Argentina Infrastructure Report Aug 27, 2016. New York, NY: Alacra Store. Retrieved Dec 09, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Argentina-Infrastructure-Report-2026-381>
  
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