The Romanian government has announced it will rebuild over 1,000homes destroyed in the floods of the past month, at a time when theconstruction market is still dwindling. Constructors say suchinvestments are welcome, but are too small to reboot themarket.
The investments announced by the Government into rebuilding homesand the transportation infrastructure affected by floods could savea portion of the business of construction companies amid a 20.9%decline in the volume of construction works in May against May 2009as gross series, and a 17.3% decline as seasonally adjusted series,and as series adjusted for the number of working days, according todata supplied by the National Statistics Institute (INS). Thedamages caused by this year's floods exceed 400 million euros, andcould amount to 450 million euros, according to data centralised sofar by the authorities and obtained by Mediafax news agency.
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