Budget financing for the construction and modernization of the main infrastructure decreased by 2.4 times in the January-March 2023 period compared to the same period in 2022. In this respect Wrote The Kommersant newspaper cites Sherpa Group data.
According to the publication, contractors were received mainly in state-owned construction projects (railway infrastructure, Euro-West China highway, North Sea Road facilities funded under the national project “Comprehensive Plan for Comprehensive Modernization and Expansion of Main Infrastructure”) 33.2 billion rubles in the period under review, this is 20.7% of the budgeted expenditures for this year. Compared to a year ago, the figure was 2.4 times lower.
A year ago this type of financing supported the industry during the economic and financial crisis when the construction of commercial facilities slowed down. After the article, road and rail builders even managed to increase their revenues by 20-25%. Overall, in 2022 the government allocated 35% more funds for these projects than the previous year.
According to Alexandra Galaktionova, head of the Sherpa Group, builders have no alternative to government-owned buildings in the current circumstances. The business is unable to deliver such large volumes of orders to compensate for the decline in revenues for infrastructure projects. At the same time, experts remind that the number of large commercial projects continues to decline.