Armenia’s construction sector up 16.7% in January-May 2023

|

USD

385.06

EUR

436.58

RUB

4.8024

GEL

140.61

Economy

07.07.2023, 13:51

Armenia’s construction sector grew by 16.7% in the first five months of 2023 from the first five months of 2022 to over 131 billion drams (in current prices), according to the National Statistical Committee.

Armenia’s construction sector up 16.7% in January-May 2023

YEREVAN, July 7. /ARKA/. Armenia’s construction sector grew by 16.7% in the first five months of 2023 from the first five months of 2022 to over 131 billion drams (in current prices), according to the National Statistical Committee.

It said in May alone, the sector surged by 18.4% as opposed to May 2022 to over 36.1 billion drams.

The NSC said over 16.1 billion drams worth construction was financed by the government, down 37.2% from the first five months of 2022.

Over 6.1 billion drams worth construction was financed by communities, up 44.5% from January –May 2022. Over 1.4 billion drams worth construction was financed by humanitarian organizations, up 46.8% year-on-year.

Over 79.6 billion drams worth construction was financed by organizations, up 44.8% and about 21 billion drams worth construction was financed by individuals, up 4.7%.

Besides, 878.2 million drams worth construction was financed by World Bank loans, 125.5 million drams worth construction was financed by the EBRD, some 476.9 million drams worth construction was financed by the European Investment Bank, and over 1.6 billion drams worth construction was financed by the Asian Development Bank’s loans. ($1 - 386.35 drams) -0-.

Construction progress of the World Trade Center in Yerevan discussed at Government

A meeting held in the government on Wednesday, chaired by Prime Minister Nikol Pashinyan, discussed the progress of the World Trade Center construction project in Yerevan.

22.05.2025 10:07

Armenia's GDP up 5.2% to 2.1 trillion drams in Q1 - official statistics

Armenia's gross domestic product (GDP) in the first quarter of 2025 recorded a 5.2% growth compared to January-March 2024, according to the National Statistical Committee (NSC).

21.05.2025 19:07

Russia's trade turnover with Armenia reached a record $1.6 billion in 2024 - Lavrov

Russia's trade turnover with Armenia last year amounted to $1.6 billion, impressive results were achieved, said Russian Foreign Minister Sergey Lavrov, calling this figure a record.

21.05.2025 13:40

Russia is the main trading partner and investor in Armenian economy - Lavrov

Russia is the main trading partner and investor in the Armenian economy and a reliable guarantor of the republic's energy and food security, said Russian Foreign Minister Sergei Lavrov.

21.05.2025 12:38

Yerevan residents exempted from fines for late payment of garbage collection fees in January-April - city hall

Yerevan residents have been exempted from paying fines and penalties for garbage collection accrued for the period from January to May of this year. This decision was made on Tuesday by the Council of Elders of the capital.

20.05.2025 14:59

Armenian-Austrian business forum to be held in Vienna in 2025

The Armenian-Austrian business forum is planned to be held in Vienna in 2025. As reported by the Armenian Ministry of Economy, an agreement on this was reached at a meeting between Deputy Minister Narek Hovakimyan and Director General for Economic Affairs, Innovation and International Policy of the Austrian Federal Ministry for Economic Affairs, Energy and Tourism (BMWET), Co-Chairman of the Armenian-Austrian Intergovernmental Commission on Trade, Economic and Scientific-Technical Cooperation Florian Frauscher.

20.05.2025 09:57

Armenia and China consider increasing the number of direct flights

Armenian Prime Minister Nikol Pashinyan and the newly appointed Chinese Ambassador Extraordinary and Plenipotentiary to Armenia Li Xingwei discussed on Monday implementation of joint projects in the fields of economy and tourism, as well as increase in the number of direct flights.

19.05.2025 17:18

Georgia allowed partial passage of Armenian trucks with alcohol, but the problem remains - Papoyan

Georgia has allowed several Armenian trucks with alcohol to cross its border, but the problem with the export of cognac spirit has not yet been resolved, said RA Minister of Economy Gevorg Papoyan.

15.05.2025 15:37