Armenia’s construction sector up 16.4% in January-October 2023

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06.12.2023, 13:00

Armenia’s construction sector grew by 16.4% in the first 10 months of 2023 from the first 10 months of 2022 to over 418,3 billion drams (in current prices), according to the National Statistical Committee (NSC).

Armenia’s construction sector up 16.4% in January-October 2023

YEREVAN, December 6. /ARKA/. Armenia’s construction sector grew by 16.4% in the first 10 months of 2023 from the first 10 months of 2022 to over 418,3 billion drams (in current prices), according to the National Statistical Committee (NSC).

It said in October alone, the sector surged by 13.67% or 69 billion drams compared to October 2022. The NSC said 91.4 billion drams worth construction was financed by the government, down 4.6% from the first ten months of 2022.

About 25, 4 billion drams worth construction was financed by communities, up 60% year-on-year. About 4 billion drams worth construction was financed by humanitarian organizations, up 17.6% year-on-year.

Also, 227.1 billion drams worth construction was financed by organizations, up 31.6% and about 70.5 billion drams worth construction was financed by individuals, down 1.2%.

Besides, about 4.7 billion drams worth construction was financed by World Bank loans, 820.6 million drams worth construction was financed by the EBRD, about 3.7 billion drams worth construction was financed by the European Investment Bank, about 8.8 billion drams worth construction was financed by the Asian Development Bank’s loans and about 1.7 billion drams worth construction was financed by the German KfW bank. ($1 - 402.95 drams) -0-

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