Armenia’s construction sector up 12.2% in January 2023

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Economy

09.03.2023, 09:47

Armenia’s construction sector grew by 12.2% in the first month of 2023 from the first month of 2022 to a little over 16 billion drams (in current prices), according to the National Statistical Committee.

Armenia’s construction sector up 12.2% in January 2023

YEREVAN, March 9. /ARKA/. Armenia’s construction sector grew by 12.2% in the first month of 2023 from the first month of 2022 to a little over 16 billion drams (in current prices), according to the National Statistical Committee.

It said about 1.6 billion drams worth construction was financed by the government. Compared to the first month of 2022 the figure almost doubled to about 10% of the total. About 884 million drams worth construction was financed by communities, 5.4 times rise from January 2022 (5.5% of the total).

About 152 million drams worth construction was financed by humanitarian organization, up 12% year-on-year.

About 10.4 billion dram worth construction was financed by organizations, down 40.2% and a little over 3 billion by individuals, down 26%.

Besides, 72 million drams worth construction was financed by World Bank loans (up 38.5%), 245 million drams worth construction was financed by the Asian Development Bank’s loans (up almost 16 times) and 8.4 million drams worth construction was financed by the European Investment Bank.

Construction of real estate accounted for about 7.4 billion drams of the total, construction of electricity, gas, steam and conditioned air facilities - for about 3 billion drams and construction of education facilities -over 1.2 billion drams.. ($1 - 388.60 drams) -0-.

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