Jwdwrd
02-15-2012, 08:59 AM
Research and Markets: Iraq Infrastructure Report Q1 2012 - Strong growth outlook for Iraq's construction industry
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/559cfb/iraq_infrastructur) has announced the addition of the "Iraq Infrastructure Report Q1 2012" report to their offering.
Business Monitor International's Iraq Infrastructure Report provides industry professionals and strategists, corporate analysts, infrastructure associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Iraq's infrastructure industry.
Iraq's reconstruction has resulted in significant contract awards, with US$124bn of projects currently underway or in the pipeline. However, cracks are showing in the country's business environment, as weak bureaucracy threatens to undermine progress in projects. In addition, questions over the government's ability to coordinate and afford funds raise doubts over BMI's medium-term optimistic forecast, with annual average growth of 8.7% currently anticipated between 2012 and 2016.
A huge project pipeline supported by infrastructure and housing projects has resulted in BMI's strong growth outlook for Iraq's construction industry. There is even further upside to this figure if the cabinet's US$37bn infrastructure programme is approved by the country's government.
Over the short-term, significant contract awards in 2010 and H111 should drive strong activity, with 2011 real growth estimated at 11.9%. However, BMI expects that the disintegration of a number of large contracts could dampen growth in 2012, and forecast a slight slowdown to 8.2%.
This trend illustrates BMI's concerns over Iraq's infrastructure sector, which stems primarily from a poor business environment and the government's weak fiscal position:
• The country's business environment continues to present fundamental weaknesses, with its institutions fundamentally flawed. The award of two sizeable electricity contracts to two sham companies cast doubt on the government's ability to award contracts and carry out due diligence.
• The government's ability to invest in infrastructure is weakened by the delay in oil and gas production. With much-needed revenue tied up, the government's fiscal position is not looking very liquid and the private sector is unlikely to take on the burden as a result of weak regulations and a lack of government stability.
Read more inside Iraq Infrastructure Report Q1 2012
For more information visit http://www.researchandmarkets.com/research/559cfb/iraq_infrastructur
http://www.businesswire.com/news/home/20120215006193/en/Research-Markets-Iraq-Infrastructure-Report-Q1-2012
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/559cfb/iraq_infrastructur) has announced the addition of the "Iraq Infrastructure Report Q1 2012" report to their offering.
Business Monitor International's Iraq Infrastructure Report provides industry professionals and strategists, corporate analysts, infrastructure associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Iraq's infrastructure industry.
Iraq's reconstruction has resulted in significant contract awards, with US$124bn of projects currently underway or in the pipeline. However, cracks are showing in the country's business environment, as weak bureaucracy threatens to undermine progress in projects. In addition, questions over the government's ability to coordinate and afford funds raise doubts over BMI's medium-term optimistic forecast, with annual average growth of 8.7% currently anticipated between 2012 and 2016.
A huge project pipeline supported by infrastructure and housing projects has resulted in BMI's strong growth outlook for Iraq's construction industry. There is even further upside to this figure if the cabinet's US$37bn infrastructure programme is approved by the country's government.
Over the short-term, significant contract awards in 2010 and H111 should drive strong activity, with 2011 real growth estimated at 11.9%. However, BMI expects that the disintegration of a number of large contracts could dampen growth in 2012, and forecast a slight slowdown to 8.2%.
This trend illustrates BMI's concerns over Iraq's infrastructure sector, which stems primarily from a poor business environment and the government's weak fiscal position:
• The country's business environment continues to present fundamental weaknesses, with its institutions fundamentally flawed. The award of two sizeable electricity contracts to two sham companies cast doubt on the government's ability to award contracts and carry out due diligence.
• The government's ability to invest in infrastructure is weakened by the delay in oil and gas production. With much-needed revenue tied up, the government's fiscal position is not looking very liquid and the private sector is unlikely to take on the burden as a result of weak regulations and a lack of government stability.
Read more inside Iraq Infrastructure Report Q1 2012
For more information visit http://www.researchandmarkets.com/research/559cfb/iraq_infrastructur
http://www.businesswire.com/news/home/20120215006193/en/Research-Markets-Iraq-Infrastructure-Report-Q1-2012