Ukraine's construction industry resurges to pre-crisis level: PM
Ukraine's construction industry has recovered to the pre-2008 crisis level and is expected to grow this year, Prime Minister Mykola Azarov said Monday, according to Xinhua.
"The government will pay great attention to the development of the construction industry in the future," Azarov told students during a lecture at the Kiev National University of Construction and Architecture.
During the 2008-2009 recession, the construction industry fell by almost 60 percent, Azarov said, adding more than half of construction projects were suspended in Ukraine in that period.
In early 2010, the government increased spending on construction, which has given a powerful impetus to the industry, Azarov said.
To encourage construction, the government initiated a program of affordable housing for nationals, under which the state pays 30 percent of the cost of new apartments.
The production value of the construction industry hiked by 11.1 percent in 2011 over 2010 to 7.56 billion U.S. dollars.