Challenges for Greek construction industry

The government acknowledges the challenges the construction sector faces and is prepared to contribute and cover part of the inflation cost, Infrastructure and Transport Minister Christos Staikouras said on Friday, speaking on a panel at an Economist conference in Thessaloniki.

Sector challenges include the large number of non-executed projects, land expropriations, raising capital, and staffing, sector officials said.

Staikouras said the state could definitely not assume the entire cost of inflation because it would affect fiscal rates, and that in turn would affect the private sector adversely.

The minister said the government was collaborating with the sector on the execution of projects, in order to push ahead ongoing projects and initiate new ones.

He also noted the good collaboration between the ministry and the sector, as well as the contributions of sector businesses in recent natural disasters.