Constructions exceed 1bn euros on paper only

The Romanian constructions market is growing by 8.6%, but only on paper – that is, only in statistical terms. Constructions companies are meanwhile registering receivables from the state worth thousands of billion ROL. In line with the statistical data, the volume of construction works carried out in the first half of this year amounted to 42,778 billion ROL (more than 1.05 billion euros), 8.6% higher than the corresponding period last year. “The reported figures do not reflect the reality, because works being realised with money from the state, such as the school gym programme, are registering payment delays involving several thousands of billion ROL,” Liviu Daschievici, executive manager of ARACO (The Romanian Association of Constructions Contractors), told Ziarul Financiar. According to Daschievici, the data released by the National Statistics Institute refers to works for which invoices were issued, but “this does not necessarily mean that the respective sums were paid to constructors”. ZF