Romania’s Construction Market Needs Infrastructure Works To Revive

Recovery for Romania’s nearly-flatlined construction segment depends on investment, project selection and improved legislation, as the market is “running out of companies to go bankrupt”, Thursday said Cristian Erbasu, president of construction employers' association PSC.

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"While two-three years ago this was the most prosperous activity in Romania and we were envied, right now the situation is critical. (...) The situation on the construction market will be extremely difficult until large infrastructure projects are launched," Erbasu told the conference "Mediafax Talks about Constructions".

He added the segment's recovery depends on financing and a clear picture on the projects authorities wish to follow through.

In addition, the market needs solutions to legislation issues. "There have been many laws amended lately, but they lack norms," Erbasu said.

Present at the seminar, Development Ministry official Eugen Curteanu listed the main programs targeting the construction market and concluded the construction segment is dimly showing signs of recovery.

"We can't really speak of recovery on the construction market, but there are signals it is slowly reviving," Curteanu said.

Referring to the residential compound boom seen in past years, Erbasu said Romania still has a housing deficit, but first it needs to develop the infrastructure, to avoid future instances of high-quality projects lacking running water and sewage systems.

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