According to Almantas Čebanauskas, the head of UAB EIKA Construction (formerly UAB Eikos statyba), the construction sector is currently working from the order portfolio of previous years, but the real crisis is still ahead – a decline of up to 30% may be recorded by the end of the year.
“All work is currently proceeding from inertia, from the portfolio of orders formed last year. However, if the state does not take decisive action and does not show a strong backbone, I fear that in late autumn or winter, wild slaughter, complaints and delays of projects will begin in the construction sector – as happened during the crisis 12 years ago,” says A. Čebanauskas.
The head emphasizes that the past crisis showed the need to amend the Public Procurement Law, as competitive disputes then hindered the implementation of projects. Such a situation could not only slow down the development of the construction sector, but also affect the reputation of construction companies in Lithuania.
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