Armenia’s construction sector grew by 17% in the first six months of 2023 from the first six months of 2022 to over 174.1 billion drams (in current prices) or US$ 452 million, according to the National Statistical Committee.
It said in June 2023 alone, the sector surged by 18.1% as opposed to June 2022 to over 43.1 billion drams (US$ 112 million).
The NSC said over 26.7 billion drams (US$ 69.3 million) worth construction was financed by the government, down 28.5% from the first six months of 2022.
Over 8.8 billion drams (US$ 23 million) worth construction was financed by communities, up 61% from January –June 2022. Over 2.2 billion drams (US$ 5.7 million) worth construction was financed by humanitarian organizations, up 53.6% year-on-year.
About 102 billion drams (US$ 265 million) worth construction was financed by organizations, up 47.9% and about 34.4 billion drams (US$ 89 million) worth construction was financed by individuals, up 3.3%, ARKA reports.
