Armenia's construction sector grows by 16.2% to 330.7bn drams in 8 months

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YEREVAN, 8 October. /ARKA/. Armenia's construction sector grew by 16.2% in January-August 2024 compared to the same period of 2023 and totalled over AMD 330.7 billion (in current prices), the National Statistical Committee reported./pp

In August 2024 alone, the sector grew by 71.4 billion drams, up 16.5 per cent year-on-year. State-financed construction rose 30.6% YoY to AMD 73.2bn, or 22.1% of the total. Community-financed construction decreased by almost 19% to over AMD 12.5bn. Construction financed by humanitarian aid fell by 28.4% to AMD 2.2 billion./pp

Construction financed by corporations totalled over AMD 160.4 billion (48.5% of the total, down 0.8% year-on-year), while construction financed by individuals rose 70% to AMD 82.5 billion./pp

Construction financed by international loans totalled 27.3 billion drams with a growth of 83.2%./pp

Construction financed by the World Bank credits totalled 3.4 billion drams, by the European Bank for Reconstruction and Development - about 3.5 billion drams, by the Asian Development Bank - 12.5 billion drams./pp

The German Development Bank financed the construction in the amount of about 3 billion drams, the European Investment Bank financed the construction in the amount of 3.6 billion drams, and other credits - about 2.5 billion drams worth construction.-0-/pp nbsp;/p