“All construction companies have a loss from the very beginning of the pandemic. We hoped that a recovery of the sector would take place from 2022, but the Russia-Ukraine War got the problems more acute and we found ourselves in more severe conditions.
Russia and Ukraine have a major share in the manufacturing of construction materials, in addition fuel prices, which have a great share in the construction are almost doubled.
A large part of the companies prefers to suspend the constructs than continue to work”, - said Gegi Kelbakiani, founder and general director of REFORMER Construction Management Company (former NCC).
Construction companies declare that they have to spend more on the works due to the increased expenditures, so state contracts are not profitable for them. Construction companies have a loss.
According to Gegi Kelbakhiani, the state must adopt indexing, which is the sole solution.
