While a majority of sectors in the economy of BH are finding their way out of economic recession, one way or the other, construction has found itself in a prolonged crisis with no end in sight, representatives of the industry and experts warn.
Although reasons are numerous, construction companies blame the government the most, for not doing anything in the past two years to encourage investments in this area. In the first half of 2010, the value of construction work in BH decreased by 28.3 per cent y/y. According to official statistical data, the value of construction work done abroad fell by 23.3 per cent y/y.
At the same time, the number of finished apartments increased by 42.5 per cent. The unwritten rule that the sector which felt economic crisis first should also be the first to start recovering from it is not happening in our case, a firm complained. In BH, unlike in some neighbouring markets, there are no subsidies for home developments for the young, nor subsidies in collaboration with banks.
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