The current dynamics and short-term scenario for the construction sector in 2025–27 will be influenced by a slight improvement in the economic situation. However, there is continuing high uncertainty surrounding the multifaceted negative consequences of the war in Ukraine and changes in US tariffs. The inflationary shock caused by the outbreak of war in Ukraine is gradually subsiding, and the overall economic outlook is positive. The drop in inflation has improved construction financing conditions as a result of falling interest rates, increased investor creditworthiness and the launch of EU investment financing. After the collapse of the ...