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Bulgaria Construction Sector Shrinks by 12 % in August 2009

Date: 06.10.2009

Bulgaria’s total construction output declined by 12 % in August 2009 compared to its levels in July.

This becomes clear from data released Friday by the National Statistical Institute. The decline in building construction is 11,8 %, and in infrastructure construction 12,1%.

In August 2009, Bulgaria’s construction output declined by 17% compared to its levels in August 2008. This includes a decline of 22,6 % in building construction, and of 4,2% in infrastructure construction.

Bulgaria’s total construction output declined by 10,4 % in January - August 2009 compared to the same period of 2008. The building construction has dropped by 15,1 % (it has a share of 66 % in the total construction output), and the infrastructure construction is up by 0,5 %.

According to the Chair of the Bulgarian Construction Chamber, Simeon Peshov, the situation in Bulgaria’s construction sector is fairly bad, and gives little ground for optimism.

30 000 construction workers have lost their jobs so far in 2009, and 1 550 firms did not renew their registration which means they disappeared from the market. 90 % of those are small firms.

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