The Czech construction sector will see either little or no growth in 2020 thanks to the country’s tight labor market and the difficulty in securing construction permits, writes the Czech New Agency (CTK). It writes that while the sector saw 9.2 percent growth as recently as 2018, Q3 growth figures fell 0.2 percent from Q2 to just 2.5 percent. “In 2020, it’s necessary to count on stagnation or possibly mild growth,” CTK quotes the economist Lukáš Kovanda as saying. “This will support the need to use European subsidies more quickly. The current program period ends next year.” CTK also spoke with ČSOB analyst Petr Dufek, who says the state’s role as an investor is now crucial. “For this year, I see public investment as a critical factor, whether enough money can be found in the tight budget for investments that our out-of-date infrastructure unequivocally deserves. Especially in a time when the economy is slowing, the state and the whole public sector can be an appropriate supporter of economic growth.”
