Armenia’s construction sector up 9.5% in January 2024

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Economy

06.03.2024, 17:46

Armenia’s construction sector grew by 9.5% in the first month of 2024 as opposed to the first month of 2023 to about 17.6 billion drams (in current prices), according to the National Statistical Committee (NSC).

Armenia’s construction sector up 9.5% in January 2024

YEREVAN, March 6. /ARKA/. Armenia’s construction sector grew by 9.5% in the first month of 2024 as opposed to the first month of 2023 to about 17.6 billion drams (in current prices), according to the National Statistical Committee (NSC).

The NSC said over 1.6 billion drams worth construction was financed by the government, down 4.8% from the first month of 2023.

About 850 million drams worth construction was financed by communities, down 4% % from January 2023. Some 57.4 million drams worth construction was financed by humanitarian organizations, down 62.3% year-on-year.

Over 10.6 billion drams worth construction was financed by organizations, up 60.4% and about 4.6 billion drams worth construction was financed by individuals, up 49%.

Besides, 306.7 million drams worth construction was financed by World Bank loans, 471 million drams worth construction was financed by the Asian Development Bank, 111.8 million drams worth construction was financed by the German KfW Development Bank.($1 – 404.24 drams) -0-

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