Hungary Infrastructure Report Q2 2016

Date: March 16, 2016
Pages: 61
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Includes 3 FREE quarterly updates

BMI View: We expect slower growth in Hungary's construction sector from 2016 onwards as the government's stimulus for the infrastructure sector comes to an end. EU funding will continue to support the sector - particularly strategic road and rail projects, although we caution the EU probe into cartel allegations in road construction could damage relations with a key financier in the EC. Strong growth in Hungary's construction sector is not due to last long term, as we expect a rising fiscal deficit to necessitate a drawback in public investment. Between 2016 and 2025, we expect construction sector real growth to average 2.9% per year.

Latest Updates And Structural Trends
  • Civil engineering projects have been the primary drivers of the construction sector rebound, with road and railway projects in particular, driving the civil engineering growth. However, in November 2015, civil engineering works decreased by 8.0% year-on-year (y-o-y), construction of buildings increased by 10.2% y-o-y and the volume of construction output decreased by 0.2% y-o-y (Hungarian Statistical Office, January 2016).
  • A total of 962 development projects co-financed by the EU are currently delayed, business daily Vilaggazdasag published on November 4 2015. Citing cabinet office information, the paper stated that at the end of Q315 the state sector and local councils were HUF150bn (EUR480m) behind schedule in taking up EU financing. The state body responsible for Hungary's schools had more than 80 projects behind schedule and the National Infrastructure Development Company had 50 delayed projects. Budapest Transport Centre (BKK) projects were also significantly behind schedule. These delays caused a downgrade to our forecasts for the growth of the construction sector, resulting in real growth of 1.9% yo- y in 2016.
BMI Industry View
  Table: Hungary's Construction Industry Forecast
  Table: Hungary's Infrastructure Risk/Reward
Infrastructure SWOT
Industry Forecast
Construction And Infrastructure Forecast Scenario
Construction And Infrastructure Forecast Scenario
  Table: Construction And Infrastructure Industry Data (Hungary 2015-2025)
Transport Infrastructure - Outlook And Overview
  Table: Transport Infrastructure Industry Data (Hungary 2015-2025)
  Table: Transport Projects
Energy And Utilities Infrastructure - Outlook And Overview
  Table: Energy And Utilities Infrastructure Data (Hungary 2015-2025)
  Table: Energy & Utilities Projects
Residential/NonResidential Building - Outlook And Overview
  Table: Residential and Non-Residential Building Industry Data (Hungary 2015-2025)
  Table: Construction And Social Infrastructure Key Projects
Industry Risk Reward Ratings
Hungary - Infrastructure Risk/Reward Index
Europe - CEE Infrastructure RRI: Heightened Risks Belie Growing Rewards
  Table: Infrastructure Risk/Reward Index
Market Overview
Competitive Landscape
  Table: EQS Data
Company Profile
Strabag Hungary
KÉSZ Building & Construction
Industry Forecast Methodology
Sector-Specific Methodology
Risk/Reward Index Methodology
Sector-Specific Methodology
  Table: Infrastructure Risk/Reward Index Indicators
  Table: Weighting Of Indicators
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