Green shoots appear in the construction sector

  • 2012-02-08
  • By Emi Pastor
RIGA - The building and construction industry in Latvia now is one of these sectors whose recuperation, and any signs of movement, seems more difficult than other sectors after the economic crash in 2008. When the Latvian economy fell by 18 percent in 2009, on top of a 5 percent drop the year before, it swiftly brought down a credit-induced housing bubble. Housing market participants before the crash, however, enjoyed one of the most profitable and lucrative, and foolish, industries in the national economy: individuals, banks, and related companies had lived in a ‘false paradise&rs...
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