The construction industry in Nicaragua grew by 18 percent last year and is expected to grow 17 percent this year, the president of the Chamber of Construction Rodrigo Pereira said on Sunday.
Strong and sustained growth of the construction sector in recent years has also been the engine of hardware store business growth in the country and major suppliers of materials and equipment to construction companies, all under the government of President Daniel Ortega.
Official data revealed that In the second quarter of 2015 private construction grew by 20 percent compared to the same period in 2014, driven by an increase of over 600 percent in the industrial area constructed.
Since the Sandinistas returned to office under the leadership of Ortega in January 2007, Nicaragua has been an example of gradual recovery by a vulnerable country immiserated in poverty by decades as a result of interventions by Washington and multinational corporations.
Without sources of capital accumulation such as mineral and energy resources and without a developed industrial infrastructure, the country has still managed to prioritize poverty reduction.
Through 2016 and beyond, Nicaragua has scheduled very important projects for the future, among them the canal, a major hydroelectric project on the Caribbean Coast.