Economy Minister, construction companies discuss rise in costs caused by Ukraine war, pandemic

An increase in prices of construction materials in the market due to the global pandemic and the ongoing war in Ukraine was the focus of a meeting between Georgian Economy Minister Levan Davitashvili and representatives of Georgian construction companies on Monday. 

In the meeting, the business representatives highlighted the challenges the sector faces, and emphasised the importance of solving those issues, the Ministry said. 

During the meeting, a decision was made to set up a working group under the Economy Ministry in cooperation with public agencies and the private sector with the purpose of preparing recommendations and proposals.

The initiative follows figures from 2021 that saw construction post a 21.8 percent reduction in the real value-added year-on-year. 

The meeting was co-organised by the Infrastructure Construction Companies Association, founded in 2015 and linking 51 construction companies across the country.