The construction sector was boosted from 2004 by investments in infrastructure and housing partially financed by European Union funds and public spending.
Poland's economic catch-up with its European neighbors then ran into the economic downturn, a drying up of loans and a fiscal deficit that forced a change of economic policy.
The contraction in international demand, budgetary restrictions and the shrinking of European Union funds caused the financial situation of construction companies to deteriorate, resulting in a surge in insolvencies.
Poland's economic catch-up with its European neighbors then ran into the economic downturn, a drying up of loans and a fiscal deficit that forced a change of economic policy.
The contraction in international demand, budgetary restrictions and the shrinking of European Union funds caused the financial situation of construction companies to deteriorate, resulting in a surge in insolvencies.