The renewed decline was particularly due to the plummeting public investments.
“Last year’s trend is clearly worse than those of previous years, confirming once again the political and economic failure of using the potential of this industry,” states Laurentiu Plosceanu, ARACO president.
The field, employing around 350,000 people, had to cope with the drastic reduction of public investments, which could not be offset by the slight increase coming from the private sector last year.
The move to curb public investments came as the Romanian government pursued a budgetary gap reduction policy.
In Plosceanu’s opinion, the only area where there are positive signals about an investment rebound is that of housing projects, but the impact of this segment was not a “significant” one for the overall market.
At the end of 2014, the National Prognosis Commission estimated the construction field would resume growth starting 2015, when it is set to rise by 5.4%.
In the opinion of ARACO president, the moves likely to drive the market into positive territory this year include an investment rebound, bringing VAT back to 19%, the promotion of some national programs for constructions, as well as friendly legislation for projects that can be carried out through a public-private partnership.
(English version by Catalina Apostoiu)