Israels construction industry suffered a downturn in 2018, contracting by 0.5% in real terms that year, following an average annual growth of 4.0% during 2014-2017. This decline can be attributed to low public and private sector investments in construction projects, slowdown in new home sales and deceleration in fixed assets investment in residential buildings. Israels construction industry is expected to record positive growth over the forecast period (2019-2023), driven by the governments plans to upgrade the countrys transport infrastructure. In addition, public and private sector investments in energy, commercial, industrial and healthcare infrastructure construction projects are expected to support growth in the industry over the forecast period. The governments investment under the five-year infrastructure development program 2017-2021 is also expected to support the industrys growth over the forecast period. The government plans to invest ILS116.0 billion (US$32.4 billion...
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