The construction sector slowly recovers

In the first quarter of this year, construction figures remained negative, in March -12.3 figures were recorded. But in the fourth month, there was a slight recovery of 0.4%, according to the April 2017 Business Opinion Monthly Survey of the Central Bank of Ecuador.

Does it mean that the industry is beginning a recovery process as in the past? “No,” says Enrique Pita, president of the Guayaquil Construction Chamber.

He explained that the fact that President Lenin Moreno is willing to dialogue with all productive sectors, made the difference. This led to the resumption of some projects that were stopped.

According to Pita, the fact that government gives clues that it will support the productive sectors, strengthen the dollar, and review the Capital Gains Law, as well as the electronic money project, generates positive expectations.

But this does not mean that the sector will recover in the short term. To make that happen the economic environment has to be in better conditions, he said. However, the project announced by the Government will be a possibility for the activity to reactivate significantly. And this week, the talks between the Government and the sector will begin. (I)