72.2% of construction done with population’s financial resources

72.2% of construction done with population’s financial resources in
Armenia in January-November 2008

YEREVAN, JANUARY 9, NOYAN TAPAN. Construction work of 757 billion 806
million drams (over 2 bln 478.1 mln USD), including building and
assembly work of 694 bln 83.1 mln drams, was carried out in Armenia in
January-November 2008. Construction grew by 1.6%, building and assembly
work by 9.3% in comparable prices as compared with January-November
2007. Construction volumes declined by 33% in November 2008 on the same
month of 2007, whereas in November 2007 construction volumes grew by
18.9% on the same month of the previous year.

According to the RA National Statistical Service, in January-November
2008, 7% of construction work was done with state budgetary
allocations, 0.1% – at the expense of the RA government’s reserve fund,
0.1% – with community resources, 0.6% – with credit resources of the
World Bank, 2.8% – with humanitarian aid, 17.2% – with resources of
private organizations, and 72.2% – with the population’s resources.