Estonia is in danger of default construction

Estonian economy is in a stagnation

In brief: The construction sector of the Estonian economy is in a dead end. The Government continues to seek ways to avoid default.

In I quarter of the total value of construction works completed in Estonia decreased by 46,4% from the previous quarter. In comparison with I quarter 2009 decline of the indicator was 40%. At the same time in the segment of building construction volume decreased by 40,6%, and in the segment of infrastructure – on 38,9%, according to a report of the Estonian Statistical Office.

Quantity constructed for January-March of residential property increased by 11,4% compared to the same period last year. The number of construction permits for residential projects, issued for the I quarter has grown three-fold year on year. Note that comparable data on the rates of construction in Estonia earlier led by professionals of the local property market.

Pavel Nurminen
2010-05-29 09:07, Economics.

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