Armenia's construction sector grows by 9% in 4 months to 81.2 billion drams

YEREVAN, June 8. /ARKA/. Armenia’s construction sector grew by 9% in the first four months of 2022 from the first three months of 2021 to about 81.3 billion drams (in current prices), according to the National Statistical Committee.

It said in April 2022 alone some 25.3 billion drams worth construction was carried out in the country, which is 15.6% more than in April last year.

More than 18.6 billion drams worth construction or 22.9% of the total was financed by the government. Compared to the first four months of 2021 the figure was down 10.3%. More than 2 billion drams worth construction was financed by communities, up 41.2% from the same time span of 2021 (2.5% of the total).

Also, 772 million drams worth construction was financed by humanitarian organizations. It made only 1% of the total, but was 2.3 times more year-on-year.

Some 40.6 billion drams worth construction or almost half of the total was financed by organizations. This figure represented 31.3% growth from the first four months of 2021 and 19.3 billion drams construction was financed by individuals, which made 23.7% of the total, and was down 8.4% from the first four months of 2021.

Besides, 615 million drams worth construction was financed by World Bank loans, 875.8 million drams worth construction- by European Bank for Reconstruction and Development loans, 504.5 million drams construction was financed by European Investment Bank loans, 2.2 billion drams worth construction by the Asian Development Bank, 558.5 million drams worth construction- by the German Development Bank (KfW) and about 3 billion drams worth construction was financed by other institutions. -0-