Armenia’s construction sector up 14.2% in January-August, 2022 to over 243 billion drams

YEREVAN, October 7. /ARKA/. Armenia’s construction sector grew 14.2% in the first eight months of 2022 from the first eight months of 2021 to over 243 billion drams (in current prices), according to the National Statistical Committee.

It said in August 2022 alone, some 52.6 billion drams worth construction was carried out in the country, which is 16% more than in August last year.

About 63.6 billion drams worth construction was financed by the government. Compared to the first eight months of 2021 the figure was down 3.5%. Over 9 billion drams worth construction was financed by communities, up 51% from the same time span of 2021.

In addition, over 2.2 billion drams worth construction was financed by humanitarian organization, up 21.6% year-on-year.

About 118 billion drams worth construction was financed by organizations, up 36.1% and about 53 billion drams construction was financed by individuals, down 4.1% from the first eight months of 2021.

Besides, over 2.2 billion drams worth construction was financed by World Bank loans (down 48.7%), 1.6 billion drams worth construction- by European Bank for Reconstruction and Development loans, up 48.4%, also about 2 billion drams construction was financed by European Investment Bank loans (down 30%), 9 billion drams worth construction by the Asian Development Bank (down 42.2%), over 1.2 billion drams worth construction was financed by the German Development Bank (KfW), up 83% and over 4.7 billion drams worth construction was financed by other institutions. ($1 – 405.46 drams). -0-