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Nicaragua Nears Construction Growth Goal

Article Summary:

In the second quarter of this year the construction in residential, industrial, and commercial sectors recorded an increase of 48.8% in Nicaragua, moving steadily toward the goal of a 20% increase in growth for 2012.

Photo Credit: Prensa Nicaragua

Original Article Text From Prensa Nicaragua via Google Translate:

Construction Grew 48.8%

The second quarter of this year the construction of residential, industrial and commercial in the private sector recorded an increase of 48.8 percent, said the latest report on the situation to June Renovations released by the Central Bank of Nicaragua (BCN).

This has enabled the sector to move steadily toward the goal of 20 percent growth at the end of 2012.

The residential buildings contributing to June 40.6 percentage points to growth, meanwhile, works for services, business and industry contribute about 8.2 points. By geographical area Managua participates with 33.6 percentage points and the rest of the country with 15.2 points.

The price index of construction materials (IPMC) an increase of seven percent, 2.3 points lower than the same period last year.

For the president of the Nicaraguan Chamber of Construction, Benjamin Spears Somarriba, stability in the price of materials and the availability of credit have been key to this dynamism.

Public construction is also progressing well, as the Ministry of Transport and Infrastructure (MTI) has implemented 97 percent of its budget. In addition, municipal elections stimulate the execution of works, says Spears.

The union leader believes that tourism projects, office buildings, shopping centers, and residential zones to be built in the rest of the year, will allow the sector to ensure the proposed growth.

This dynamism also favored for construction workers enrolled in the Nicaraguan Institute of Social Security (INSS) spend 16,300 to nearly 18,000 in June this year.

Link to Original Article:

From Prensa Nicaragua

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