DECLINE IN ARMENIA’S CONSTRUCTION SECTOR

Tert.am
16:06 07.09.11

This July, AMD 35,071.7m (U.S. $94,847.3 thousand) worth construction
was carried out in Armenia – a 32.2% decline as compared with last
July, and a 10.85 decline as compared with this June.

This January-June, AMD 146,599.1m worth construction was carried out
in Armenia – a 13.8% decline as compared with last January-June.

Armenia’s National statistical Service reports that 19.6% of the
construction this July was funded from the state budget, 5.5% by
communities, 8.7% due to international loans. Also, 6.9% of the
construction was carried out as humanitarian aid, 44.3% was funded
by organizations and 15% by the population.

The budgetary financing of construction showed a 0.9% decrease. On the
other hand, communities increased funding 3.6-fold, international
loans sowed a 6% decrease and humanitarian financial aid a 36%
decrease. Organizations reduced their funding of construction by 38.7%,
and the funds by population showed a 55.6% decrease.

From: Emil Lazarian | Ararat NewsPress