“The construction industry requires more investment. Improved pricing in the sector strengthens sources to increase both wages and investment. A decision has been made to develop a program to upgrade house building plants. The goal is to increase capacity, quality and labor productivity,” Anatoly Sivak said.
In January-August 2024, a total of Br12 billion was spent on construction and installation works, up 5.2% year-on-year in comparable prices. The volume of capital repairs by contractors amounted to Br1.2 billion, up 2.4% year-on-year. Current repairs made up Br2.3 billion (28.1%).
In general, in January-August 2024 the volume of contracted works went up by 9.5% as compared to the same period of 2023. The gross value added in construction increased by 9%, which made it possible for the industry to contribute to the country’s GDP.
The country’s contracting organizations secured profitable operation In January-July 2024. Net profit soared 47.2% to reach almost Br600 million. Return on sales amounted to 9.1% (8.7% in January-July 2023).
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