ECONOMIC IMPACT OF THE CORONAVIRUS CRISIS ON THE CONSTRUCTION SECTOR IN ROMANIA

Abstract

The construction sector has been marked in the recent years by unforeseen events that have changed the plans of many companies in this sector. This paper examines the evolution of this sector before, during and after the SARS-COV2 pandemic. The aim of this paper is to highlight how construction companies have managed their business with the threat of the pandemic crisis. The method used is a comparative analysis from 2015 to 2022 inclusively, so that we can observe the stage of development of firms operating in the construction sector precursor to the pandemic, and the effects it has had. For the period 2019-2022, we have also analyzed the impact of the increase in the minimum wage and of the tax facilities for construction employees on the development of the construction industry. Among the indicators analyzed are the gross value added of the construction sector, the volume of construction work by structural elements, net investment, and construction cost growth. The study highlights the extent to which the construction sector has been affected by the pandemic crisis, but also the factors that could lead to the development of this sector.

Keywords

• construction
• pandemic
• gross value added of the construction sector
• net investment
• tax breaks