Serbian construction industry grew by 25%

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Growth in the value of completed construction works in Serbia in the first half of this year is 25 percent, which significantly exceeds growth rates in other sectors that contributed to growth of gross domestic product (GDP) of 4.5 percent, the Ministry of Construction, Transport and Infrastructure has announced today.

According to statement, “following growth of construction works of 28.1 percent in the first quarter of 2018, in the second quarter recorded a growth of 23.1 percent.”

It is added that the greatest work intensity has been achieved on corridors and in residential construction, and it is expected that these two sectors will continue to “push” the growth of construction industry in the second half of the year.

“This is also confirmed by data on realization of the budget for projects monitored by the ministry, where in the first six months of 2018 48 percent of available project funds were realized, or RSD35.45 billion out of the total of RSD74 billion,” it is added in the statement.

It is expected that the current dynamics of spending planned budgetary funds will continue in the second half of the year as well, while overall available funds will be increased due to funding of the Housing Construction Project for members of security forces.

Source: BIZLife

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