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.

ADVERTISEMENT

Companies Borrow HUF 256 bln in October Banking

Companies Borrow HUF 256 bln in October

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Mahart Container Center Depot Opening at Budapest Airport Transport

Mahart Container Center Depot Opening at Budapest Airport

Countries Exchange Experiences for Better Production of Catt... Conferences

Countries Exchange Experiences for Better Production of Catt...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.