YEREVAN, November 4. /ARKA/. Extension of long-term loans to construction companies is one of the key focuses of the program Armenian government is developing now to slow down decline in this area, Urban Planning Minister Samvel Tadevosyan said Monday at budget hearings in the National Assembly.
He said that the decline in construction was first of all due to contraction of international lending and added that to regain momentum this area needs financial resources.
Tadevosyan said that a special commission has been set up for dealing with the problem.
“Special attention will be paid to social housing programs and extension of long-term loans to construction companies,” he said.
One day earlier, Prime Minister Tigran Sargsyan said that the 8.5-percent decline recorded in construction in Jan-Aug 2013 was the main obstacle for economic growth. He said that construction make up 12% of the country’s GDP.
In the 2014 draft government budget, AMD 10 billion 750 million is earmarked for urban planning. ($1 – 405.26). ---0---