Romanian Construction Market Remains Critical - Coface
Romanian construction market is still mired in the crisis as the weak demand and reduced financing from the local banking sector make the recovery difficult, according to a survey from credit insurer Coface.
The outlook for the next months is even gloomier, as the latest credit regulations imposed by the central bank are poised to further limit the companies’ access to foreign loans, Coface said in its latest global construction report.
However, the local construction market is not completely shadowed by the economic and financial downturn.
In November, Romania reported the highest annual increase in construction works among EU members, the report noted. Romanian construction works advanced 16.9% on the year in unadjusted data and 14% in data adjusted for working days and seasonal factors.
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