Repair works after floods could give ailing construction firms a boost

The Romanian government has announced it will rebuild over 1,000 homes destroyed in the floods of the past month, at a time when the construction market is still dwindling. Constructors say such investments are welcome, but are too small to reboot the market.
The investments announced by the Government into rebuilding homes and the transportation infrastructure affected by floods could save a portion of the business of construction companies amid a 20.9% decline in the volume of construction works in May against May 2009 as gross series, and a 17.3% decline as seasonally adjusted series, and as series adjusted for the number of working days, according to data supplied by the National Statistics Institute (INS). The damages caused by this year’s floods exceed 400 million euros, and could amount to 450 million euros, according to data centralised so far by the authorities and obtained by Mediafax news agency.