Armenia’s construction sector up 16% in January-April 2023

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06.06.2023, 16:17

Armenia’s construction sector grew by 16% in the first four months of 2023 from the first four months of 2022 to about 95 billion drams (in current prices), according to the National Statistical Committee.

Armenia’s construction sector up 16% in January-April 2023

YEREVAN, June 6. /ARKA/. Armenia’s construction sector grew by 16% in the first four months of 2023 from the first four months of 2022 to about 95 billion drams (in current prices), according to the National Statistical Committee. In April alone, the sector surged by 19.3% as opposed to April 2022 to over 30 billion drams.

The NSC said about 7.7 billion drams worth construction was financed by the government, down 31.4% from the first four months of 2022.

Over 3.6 billion drams worth construction were financed by communities, down 79.8% % from January –April 2022. Over 1.1 billion drams worth construction were financed by humanitarian organizations, up 51.8% year-on-year.

Over 56.4 billion drams worth construction were financed by organizations, up 38.2% and about 21 billion drams worth construction were financed by individuals, up 7%.

Besides, 745.6 million drams worth construction was financed by World Bank loans, 80.3 million drams worth construction was financed by the EBRD, some 233.7 million drams worth construction was financed by the European Investment Bank, about 1.5 billion drams worth construction was financed by the Asian Development Bank’s loans. ($1 - 386.35 drams) -0-.

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