Construction in Slovakia set to resume growth

Over the past two years, Slovak construction has been lacerated by the economic crisis. The reduction in purchasing power, the low level of business confidence, high unemployment and a scarcity of capital discouraged construction projects in the country in 2009 and 2010.
With the exception of civil engineering, which was more resilient to the crisis because of the continuation of a number of large transport infrastructure projects, the output of all subgroups of the construction industry was adversely affected in 2009 and 2010. Overall, there was a reduction in construction output in Slovakia in both years, with almost €1bn being lost between 2008 and 2011. Non-residential construction remained the dominant force on the Slovak construction industry, accounting for approximately 48% of total Slovak construction output in 2010.

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