Whether the recovery of the construction industry is expected in 2013? The head of the Builders Association makes a preliminary forecast in a conversation with radio “Commersant''.

As Irakli Rostomashvili says, the condition of construction industry depends on the economic situation and government policy, as well as the relationship with the banks.

Rostomashvili adds that in 2012 none of the banks gave loans for new construction, not taking into consideration “Bank of Georgia'' subsidiary “M- square”. Therefore, Builders Association considers it necessary relations with banks to be regulated on legislative level in order the banks not to extend credits only to their own companies but provide credits for new constructions.

A reminder: "M-square" representative in an interview with commersant.ge denied that they had received funding for the construction from "Bank of Georgia".
Source:www.commersant.ge