Construction Industry Still Faces Contractionary Pressure - Schlettwein

By Edgar Brandt

Windhoek — During the past 18 months the construction industry experienced the most severe economic circumstances since 2009, with the activity rate in the sector contracting by 26 percent last year relative to 2015.

And while the sector is expected to improve this year, finance minister, Calle Schlettwein feels that the outcome for the first two quarters of 2017 indicates deep-seated contractionary pressures.

"This is reflective of the difficulties of adjusting to boom-bust cycles and calls for measures to align business strategy at the micro level, and timely implementation of alternative supportive measures at the macro level," said Schlettwein at the recent annual general meeting (AGM) of the Construction Industries Federation (CIF).