Price: $ 1295
BMI View: Although we expect the Ukrainian construction sector to return to growth from 2014, we see little likelihood of a complete recovery to 2007 levels during our forecast period to 2022, especially considering the 24.5% contraction the sector experienced in 2012. Weak government finances, an uncertain macroeconomic environment, the absence of private sector investments and completion of 2012 football tournament-led projects will be the major factors holding back construction spending. We see the infrastructure sub-segment performing better than the residential and non-residential construction segment, with railways and renewables leading the country's infrastructure potential. 2012 real contraction data for Ukraine's infrastructure sector came much larger than we initially expected, at ...
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