Armenia’s construction sector upы 17% in January-June 2023

YEREVAN, August 8. /ARKA/. Armenia’s construction sector grew by 17% in the first six months of 2023 from the first six months of 2022 to over 174.1 billion drams (in current prices), according to the National Statistical Committee.

It said in June 2023 alone, the sector surged by 18.1% as opposed to June 2022 to over 43.1 billion drams. 

The NSC said over 26.7 billion drams worth construction was financed by the government, down 28.5% from the first six months of 2022.

Over 8.8 billion drams worth construction was financed by communities, up 61% from January –June 2022. Over 2.2 billion drams worth construction was financed by humanitarian organizations, up 53.6% year-on-year.

About 102 billion drams worth construction was financed by organizations, up 47.9% and about 34.4 billion drams worth construction was financed by individuals, up 3.3%.

Besides, over 1.3 bmillion drams worth construction was financed by World Bank loans, 415.7 million drams worth construction was financed by the EBRD, over 1 billion 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.

Also, 267.5 million drams worth construction was financed by the German KfW bank loans. ($1 – 386.09 drams.) -0-