For those who lived in Kyiv in the last few years, you couldn't help noticing the steep prices for rent or buy a place inconstruction Kyiv. Everywhere one looked something was being built in Kyiv, now a good chunk of that construction has ended as the economy reels from the global recession. As one report notes, Euro-2012 may help stimulate a sector now hurting from the crisis.
Officials say 80,000 construction workers have lost their jobs this year and expect a similar number in 2009. Tens of thousands of jobs will go in related sectors.
"By the end of next year, we can expect a further 75,000 to 80,000 job losses," said Vasyl Kuibida, minister of Regional Development and Construction. "And there will be a drop in housing construction projects of something like 40-50 percent."
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