Construction declines by 24.7% in Armenia

Construction declines by 24.7% in Armenia

15:04 – 02.10.11

Construction has seen a 24.7% decline in Armenia this August compared
to the same period in 2010, with the funds spent in construction
making a total of around 41.4 billion drams (more than $111.4
million).

According to a recent report issued by the Armenian National
Statistical Service the construction, however, increased by 16.3% in
August this year compared to July.

>From January to June in 2011 a total of around 146.5 billion drams
were spent in the sphere of construction which is a 13.8% in
comparison to the same period last year, according to the same report.

Of all the funds spent in construction this August 29.1% was used from
the state budget, 4.7% from community budgets, 10.3% at the expense of
international loans, 7.5% from humanitarian aid, 33.8% from
organizations, and 14.6% from residents.

Tert.am

From: A. Papazian