Best year for construction since 1990

The construction market could reach some 10 billion euros by the end of next year, following an approximately 30% growth thanks to funds granted by the European Union for infrastructure and public construction. As a result, 2007 will be the best year the construction field has seen since 1990. “The construction market will grow by 23-30% this year and by at least as much in 2007,” stated Laurentiu Plosceanu, vice-president of the Romanian Association of Construction Contractors (ARACO). The market growth will speed up for two reasons next year: the European cash “injections”, that is funds allocated by the EU for infrastructure and public construction, and the repairs needed after the floods last year, Plosceanu says. ARACO originally estimated a mere 15% growth of the construction market in 2007, but after Brussels published its budget for the development of infrastructure, there has been a reassessment of the construction needed in the wake of the flooding.