Construction Not Taking Off in CA

The lack of public investment, credit restrictions and political instability are some of the reasons.

Thursday, November 25, 2010

This was pointed out by representatives of the Regional Organization of Construction Chambers of Central America and the Caribbean, participants in the conference "Financing and Sustainable Development."

The countries which have lost the most jobs in the sector are El Salvador, Nicaragua and Honduras.

"El Salvador has still not recovered close to 75.000 direct and indirect jobs lost in the last two years ... Honduras has yet to recover from the loss of more than 100 thousand jobs (direct and indirect) registered following the economic crisis..", reported Elsalvador.com.

More on this topic

Salvadoran Banking Loan Less for Construction

January 2012

Financial institutions lent 15% less for building houses in 2011, complained the Chamber of Construction.

The Salvadoran Chamber of Construction Industry (Casalco) reported that the portfolio of loans for housing construction experienced a decrease of 15% in 2011, as banks only granted $113.9 million.

Guatemalan Construction Continues to Struggle

August 2010

Guatemalan Chamber of Construction (CGC) representatives can see no signs of recovery this year.

Jorge Montenegro, CGC president, told a press conference that, “May had the lowest index of construction activity yet, down 21.1%”.

Montenegro also mentioned that 172,165 jobs were lost in the sector between 2007 and 2009.

Honduras: Construction Industry Lost $201 Million in 2009

December 2009

2009 was not the best year for the construction industry, which recorded a 34% drop when compared with 2008.

Alejandro Álvarez, vice president of Chico, the Honduran Chamber of Construction, blamed the global financial crisis and the domestic political showdown. Other contributing factors were credit restrictions enforced by the Inter-American Development Bank and the Central American Bank for Economic Integration, as well as the decision by Brazil's and Taiwan's governments to postpone funding for three hydroelectric power plants.

One Third of Salvadoran Construction Firms Without Work

March 2009

The prospects of the construction sector for this year are a 4% decrease.

Ismael Nolasco, executive director of the Salvadoran Construction Industry Chamber (CASALCO) informed Elsalvador.com: "There are no closed businesses, but 30% of them just pay taxes and services and go to the office because there is no work; sector outlook for this year is that there will be a 4% decrease and this estimate translates into businesses closing."

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