Crisis Of 2020: Drivers Of Growth In The Russian Construction Market

Abstract

The article forms a portrait of the construction market for the near future, identifies restrictions that prevent its recovery, growth drivers, and studies the necessary measures of state support for its development. Coronavirus infection, falling oil prices, devaluation of the ruble - all these events have had and continue to have an extremely negative impact on the vast majority of industries and companies in Russia, in particular on the construction industry. Decrease in demand, suspension of activity, an increase in the cost of building materials, the emergence of financial problems, both for companies themselves and for counterparties, problems with the movement of workers due to the closure of borders - this is a small list of the negative impact of the crisis on the construction industry. In this regard, the relevance of social and economic monitoring is increasing in order to identify the economic expectations of market participants. Determining the drivers of growth in the construction industry and the recovery of construction companies from the crisis is becoming a fundamental moment for the future development of the industry. Improving the financial situation is a key driver of demand for housing. At the same time, the current state of affairs is significantly complicated due to rising unemployment and falling wages against the backdrop of the 2020 crisis.

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Publisher

European Publisher

First Online

25.09.2021

Doi

10.15405/epsbs.2021.09.02.2

Online ISSN

2357-1330