Pain continues for new construction
April 2011 - From the Print Edition
FLAT YEAR FOR BUILDING Romania’s construction market dropped in value by 17 per cent to 9.7 billion Euro in 2010 compared to the previous year and a fall of 37 per cent in comparison to 2008, according to the Romanian Builders and Contractors Association (ARACO). This year ARACO estimates the market will remain flat in the best case scenario with a value of 9.5 to ten billion Euro. A further obstacle in development of the construction sector in the last two years has been the state’s failure to pay its debts to construction companies. In the first quarter of 2011 the state’s debt to builders and contractors dropped to 750 million Euro from 1.3 billion euro in the last quarter of 2010.
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