New Construction research report from Timetric is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 01/17/2014 -- The Belarusian construction industry posted a compound annual growth rate (CAGR) of 30.93% during the review period (2008-2012). This growth was largely due to government efforts to liberalize the economy, develop an investment climate, modernize the country's transport and logistics infrastructure, meet the rising demand for commercial and retail space, and construct a large volume of new homes. Industry growth is expected to remain strong over the forecast period (2013-2017), as a result of the government's focus on infrastructure and residential construction. Consequently, the industry output is expected to post a CAGR of 21.15% over the forecast period.
- The Belarusian economy is expected to grow in the range of 2.5-3.3% during 2014-2016, constrained by high interest rates and weak investment growth on the back of a volatile exchange rate and limited exports. Over 2017-2018, the country's average GDP growth is projected to measure 3.7%, as domestic and external economic situations improve.
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- Construction is one of the most attractive and fastest-growing sectors in the Belarusian economy due to government initiatives to modernize infrastructure, build affordable homes and meet the demand for commercial space.
- The Belarusian government is actively promoting the development of the construction industry in a move to support economic growth, maintain employment levels and help improve living conditions. Residential construction is being fostered in pursuit of these objectives, and, as a result, the total floor space of housing completed during the first nine months of 2013 stood at 3.7 million m2, compared to 3.4 million m2 during the same period in 2012, representing an annual increase of 8.8%.
- In order to improve transport services during the 2014 IIHF World Championship, the Belarusian government is focusing on rail infrastructure development. The need for improved transport systems will lead to transport infrastructure improvements over the forecast period.
Companies Mentioned in this Report: Iterabelstroi LLC, Triple LLC, Belinte-Roba LLC, BNK Holding, ITC Engineering, LLC
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