Construction sector in Armenia up 14.9% in 11 months to AMD 567bn

YEREVAN, 14 January. /ARKA/. Armenia's construction sector in January-November 2024 grew by about %15% year-on-year to over 567 billion drams (in current prices), according to the National Statistical Committee.

Some 28 billion drams worth construction was financed by communities, 5.1% decrease, about 4 billion drams worth construction was financed by humanitarian assistance, 14.3% decrease.

Over 276 billion drams worth construction was financed by organizations, 7.5% increase and some 130.5 billion drams worth construction- by population,, 45.3% increase.

Some 43 billion drams worth construction was financed through international loans, a 59.6% growth. Over 5 billion drams worth construction was financed by World Bank loans, ,over 6 billion drams worth construction by the European Bank for Reconstruction and Development, over 17 billion drams worth construction by the Asian Development Bank, about 3.5 billion drams worth construction by he German Development Bank, over 5 billion drams worth construction was financed by European Investment Bank and over 5 billion drams construction by other financial institutions.

Most of the funds, - about 273 billion drams- was used to build real estate.

($1 - AMD 397.78) -0-.