Construction volume in Armenia up 15.5% to 484.5 billion drams in 10 months
YEREVAN, December 9. /ARKA/. The volume of construction work in Armenia from January to October 2024 totaled 484,545.9 million drams (at current prices), marking a 15.5% increase compared to the same period in 2023, according to the National Statistical Committee of the Republic.
Moreover, in October, this figure reached 71,361.9 million drams, reflecting a 16.5% increase compared to October of last year.
The volume of construction funded by the state budget for the first 10 months amounted to 109,375.4 million drams, or 22.5% of the total construction volume, reflecting a 19.5% increase.
The volume of construction work financed by community funds amounted to 22,353.1 million drams (4.6% share, decline of 11.8%), by humanitarian aid funds – 3,745.2 million drams (0.8% share, decline of 5.4%), by organizations' funds – 236,735.5 million drams (48.9% share, growth of 3.9%), and by the population's funds – 112,336.7 million drams (23.2% share, growth of 58.8%).
At the same time, the volume of construction financed by international loans in the first ten months of 2024 amounted to 37,845.5 million drams (7.8% share), reflecting a 60.7% increase. Of these international loans, the World Bank provided 5,002.2 million drams, the European Investment Bank 4,425.2 million drams, the Asian Development Bank 16,912.5 million drams, the German Development Bank 2,659.3 million drams, the European Bank for Reconstruction and Development 4,799.6 million drams, and other institutions 3,018.1 million drams.
Most of the construction work was carried out in sectors related to real estate (volume: 237,816.4 million drams, share: 49.1%), transport (volume: 76,617.2 million drams, share: 15.8%), and the provision of electricity, gas, steam, and air conditioning (volume: 48,570.8 million drams, share: 10%). ($1 = 401.31 drams)
