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Construction industry contracts far less than EU average

Hungary's construction industry contracted 2.7% in 2009, far less than the 8.4% decline in the European Union as a whole, Hungary's chief architect Sándor Fegyverneky said at a general meeting of the National Association of Construction Companies (ÉVOSZ) in Budapest on Friday.

ÉVOSZ chairman Tibor Tolnay said the contraction was not over. Next year, only the civil engineering segment will grow, while the building construction segment continues to decline, he added.

Hungary will spend HUF 1,000 billion to make buildings more energy efficient by 2020, Fegyverneky said. (MTI-ECONEWS)