Contractors in Bulgaria hope for better years to come after reduction in sales in 2016

Mateusz Lasek, Senior Construction Market Analyst, PMR
Bulgaria, like the majority of the other CEE countries, witnessed a significant contraction in its construction output in 2016, mostly because of the transition period between the 2007-2013 and 2014-2020 funding schemes of the European Union. According to our estimates, presented in the PMR report “Construction industry in Bulgaria 2017. Development forecasts for 2017-2022”, construction output in Bulgaria fell by around 14% year on year in terms of value. It should be noted, however, that this also reflected a high-base effect, as it did in 2014, and in 2015 in particular, the market…

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