Construction volume in Armenia up 16.1% to AMD 259bn in 7 months

p

YEREVAN, 6 September. /ARKA/. Armenia's construction sector in the first 7 months of 2024 grew by 16.1% year-on-year to about AMD 259.4 billion (in current prices), according to the National Statistical Committee (NSC)./pp

In July alone, the growth was 17.7 per cent year-on-year to AMD 57.4 billion./pp

Government-funded construction rose 38.4% to AMD56.9bn (21.9% of total construction)./pp

The volume of community-financed construction rose to 9.9bn, 17.3% less than in the same period of 2023./pp

Humanitarian aid of 1.9bn was also used to finance construction, 28.6% less than last year./pp

Organisations financed construction worth 123 billion, down 2.9%, while individual construction amounted to 68 billion drams, up 64.9%./pp

The volume of construction financed by international loans was 21.4 billion drams, up 2.1 times compared to the first seven months of 2023. The volume of construction financed by the World Bank was 3 billion drams. The European Bank for Reconstruction and Development financed the construction with AMD 2.8 billion, the Asian Development Bank with AMD 9.1 billion, the German Development Bank with AMD 1.8 billion, the European Investment Bank with AMD 2.7 billion, and almost AMD 2 billion in total was financed by other structures./pp

Most of the construction work - AMD 135.3 billion - was related to real estate, about AMD 36 billion went to the transport sector and AMD 20.1 billion to the provision of electricity, gas, steam and conditioned air. ($1 - AMD 387.30) -0-./pp nbsp;/pp nbsp;/p