Construction work increased by 3.9% in the first seven months of the year. The growth pace was significantly lower compared to the one recorded in the first seven months of 2015, which was 11.3%.

In July, construction work went up by 1% over July 2015, a dynamic that would better describe a winter month, reports Ziarul Financiar.

In the whole picture, a single detail stands out. The civil engineering works, which represent the major infrastructure works, increased by 11.2% in July. This is a sign that the state is willing to put more money into infrastructure investments.

Data from the Finance Ministry show that the capital investments, namely the investments from budget money, rose by 23% in the first seven months of the year, compared to the same period in 2015. Their value went up from RON 5 billion (EUR 1.1 billion) to RON 6.1 billion (almost EUR 1.4 billion).

However, the expenses carried out with EU funds dropped from RON 8 billion (EUR 1.8 billion) in the first seven months of 2015 to RON 6.3 billion (EUR 1.4 billion) in the first seven months of the year.

The average annual growth in the construction could drop from 10.5% in 2015 to 5.4% in 2016 to 3.9% in 2017, according to estimates of the local lender Banca Transilvania.

editor@romania-insider.com