Armenia’s construction sector up 14.3% in January-September August, 2022

YEREVAN, November 9. /ARKA/. Armenia’s construction sector grew 14.3% in the first nine months of 2022 from the first nine months of 2021 to over 300.2 billion drams (in current prices), according to the National Statistical Committee.

It said in September 2022 alone, some 57.1 billion drams worth construction was carried out in the country, which is 14.6% more than in September last year.

About 63.6 billion drams worth construction was financed by the government. Compared to the first nine months of 2021 the figure was down 3.5%. About 12.3 billion drams worth construction was financed by communities, up 48.1% from the same time span of 2021.

In addition, about 2.7 billion drams worth construction was financed by humanitarian organization, up 1.5% year-on-year.

Over 141 billion drams worth construction was financed by organizations, up 33.5% and about 60.7 billion drams construction was financed by individuals, down 2.7% from the first nine months of 2021.

Besides, over 2.6 billion drams worth construction was financed by World Bank loans (down 55.7%), over 1.6 billion drams worth construction- by European Bank for Reconstruction and Development loans, (down.3.6%); also over 2.4 billion drams construction was financed by European Investment Bank loans (down 43.2%), about 12 billion drams worth construction by the Asian Development Bank (down 33.3.2%), over 1.4 billion drams worth construction was financed by the German Development Bank (KfW), up 70% and over 5 billion drams worth construction was financed by other institutions. ($1 – 396.21 drams). -0-