Armenia’s construction sector may grow this year 4%-5%, urban development minister

Armenia’s construction sector may grow this year 4%-5%, urban development minister

YEREVAN, February 19. / ARKA /. Armenia’s construction sector may grow this year 4%-5%., urban development minister Samvel Tadevosyan predicted today.

"Of course, we do not expect to ever reach the 2008 figures, but in 2014 we expect the sector to see an increase of 4%-5 %," Tadevosyan told a news conference.

Construction sector was the main driving force behind Armenia’s economic expansion from 2000 to 2008 showing a steady and dynamic growth, reaching the record high of about 858.7 billion drams in 2008. 

However, after the 2008 global financial and economic crisis the construction sector plunged by 37.4 % in 2009. Tadevosyan stressed that population-financed construction last year grew by 12.4%. 

According to the National Statistical Service, construction sector in 2013 slashed by 8 percent from 2012 to 442.3 billion drams. Population-funded construction stood at 130.9 billion drams or 29.6% of the total construction. -0-

15:25 19.02.2014

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