In January 2017, output in the construction sector “almost skyrocketed”, driven by investment incentives introduces last year, Minister for National Economy Mihály Varga told public news channel M1.

Positive construction sector data signal a good year to come, and the above 4 percent of GDP economic growth can be attained, the Minister pointed out. The Government has undertaken to significantly support the building of homes by families, and the number of residential units completed or under construction has soared, exceeding 10 000, the highest figure in years.

This number is set to increase, he added, as the number of building permits has exceeded 31 thousand last year. The ultimate goal is to increase the share of residential units within construction sector output and see it rise above 10-12 percent.

More industrial construction projects are also expected to be realized this year, fuelled by the disbursement of EU funds.

The stock of contracts concluded in the construction sector exceeds that of the previous year by 200 percent, which shows that besides the Family Housing Allowance (CSOK) and the absorption of domestic and EU grants have also contributed to the increase of construction sector projects, he said.

As the available labour force in the construction sector is diminishing, adult and vocational education programmes are set to be accelerated, he stated.

During the year, the Government will constantly monitor programmes worth supporting. In case the construction of families’ residential properties increases, other ways to support the renovation and purchase of used homes in various regions may also be considered, the Minister concluded.

(Ministry for National Economy)