The volume of debt for Poland’s construction sector has hit PLN 1.35bn, according to the country’s National Debt Register Economic Information Bureau (KRD). This means that the liabilities for local builders have grown by more than PLN 320m over the past six months. Market watchers point out the figures is greater than all of 2014, as debt is now building up twice as fast as before.
“It’s bad news…even with the dropping average debt, which is a result of 12,000 new construction companies being added to the listing this year,“ says Adam Łącki, head of the Polish National Debt Register Economic Information Bureau. The biggest portion of the debt is made up of unpaid loans taken from local lenders and insurance companies.
