Armenia’s construction sector grows by 7.4% in 2021 to over 470 billion drams

YEREVAN, February 9. /ARKA/. Armenia’s construction sector grew in 2021 by 7.4% year-on-year to about 470.1 billion drams, the National Statistical Committee said.

It said about 30.2% of the total construction (about 142 billion drams) was financed by the government. Compared to 2020, the government funding was less by 1.1%.

Some 22.4 billion drams worth construction was financed by the communities (4.8% of the total). However, it was up 54.4% as opposed to 2020. Another 5.8 billion drams construction was financed from humanitarian sources (1.2% of the total and 3.2 times more than in 2020)

Also 204 billion drams worth construction was financed by companies and organizations (43.4% of the total), 8.1% rise from the previous year. S0me 96 billion drams worth construction was financed by individuals (20.4% of the total and a 7.6% growth from 2020).

In addition, about 8.9 billion drams worth construction was financed by World Bank loans, 27.1 billion drams worth construction was financed by the Asian Development Bank, some 2.4 billion drams worth construction - by the European Bank for Reconstruction and Development (EBRD), about 7.3 billion drams worth construction by the European Investment Bank (EIB), also some 2.1 billion drams worth construction was financed by the German Development Bank (KfW). ($1 - 480.29 drams). -0-