Baku, Azerbaijan, Jan. 15
By Huseyn Valiyev –Trend:
Forecasts of Azerbaijan’s Central Bank (CBA) regarding inflation growth (at four percent) in 2019 alerted construction companies that chose a wait-and-see approach, said Firdovsi Bakhyshov, executive director of the Zaferoglu Inshaat company told Trend Jan. 15.
He said that the overall market situation is stable and many construction companies show no activity when compared to the situation in previous years.
“We are waiting how the market will behave,” he noted. “Probably, the prerequisites for any changes will be felt already in February, after which it will be possible to make any forecasts. In general, if we evaluate the current situation, there is still stagnation in the market.”
Assessing the situation in the construction market of Azerbaijan in 2018, he said that despite there wasn’t much of activity in the market compared to 2017, the overall situation was relatively better.
“The year 2018 cannot be called negative for the construction market, which grew by about 10-15 percent compared to the previous year,” he noted. “Last year there was a sharp increase in prices for construction materials. However, this didn’t so much affect the market, which was still able to maintain its stability. On the other hand, it was positive that the exchange rate of the US dollar against the national currency was stable, and this is of course very important. We are optimistic for this year and I believe that the current year will be marked by positive trends.”