The growth forecast of 3,1 per cent for 2015 is predicated on a more stable industrial relations environment and an improvement in the electricity supply situation, with new generating capacity coming on stream early in 2015. There are, however, downside risks to this forecast. On the positive side, government infrastructural expenditure is set to continue, and this should underpin current and future growth.
The recent growth numbers also show that there is life in the construction sector, which grew by 4,9 per cent in the first quarter of 2014. In March, the real value of building plans passed increased by 13,6 per cent on the 3-month-to-3-month basis, and by 5,9 per cent on a year-on-year basis.