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Construction industry faces 'more difficult' year in 2022

Construction

Hungary's construction companies finished a "fantastic year" in 2021, but face a "more difficult" one in 2022, the head of industry association ÉVOSZ said at a meeting of professionals earlier in the week, according to a report by state news wire MTI.

Addressing the National Construction Industry Professionals Convention, László Koji noted that construction industry output rose 13% to HUF 5.4 trillion last year and exceeded 2019 levels by HUF 1 tln.

Headcount in the sector reached 375,000, some 25,000 more than before the pandemic, he added.

This year, he said construction companies are challenged by a decline in central and local government orders and higher inflation, the effects of which are exacerbated by the Russia-Ukraine crisis.

He expressed concern and sympathy over the situation in Ukraine and said it is an "important responsibility" of the construction industry to offer jobs to people arriving from Ukraine who want to work.

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