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WHY HAS ARMENIA'S CONSTRUCTION BUSINESS DROPPED?
news.am
February 06, 2012 | 16:18
YEREVAN. - In line with the publication of the National Statistical
Service of Armenia, the country's construction business has dropped
by 11.5 percent in 2011, in comparison with the previous year.
Construction by the state budget, the communities, and the Armenian
Apostolic Church has increased. But the primary reason for the
drop is the reduction in the volume of construction financed by
the international organizations, and of the construction by private
organizations, and individuals.
The organizations account for nearly 45 percent of all construction
in Armenia, but there is 13.5-percent drop here. The second largest
financer of construction in the country is the state budget, which
has increased its funding by 15.2 percent. But the greatest growth is
recorded in the communities, with 5.9 times. And the community-financed
construction virtually equaled the international organization-financed
construction.
All international donors have considerably reduced their construction
financing, except for the German Development Bank (KfW) which has
secured a 2.2 more growth.
The volume of Armenian Apostolic Church-financed construction has
increased by 13.8 percent, but the residents' construction activities
have considerably dropped by nearly 30.5 percent.
From: A. Papazian
news.am
February 06, 2012 | 16:18
YEREVAN. - In line with the publication of the National Statistical
Service of Armenia, the country's construction business has dropped
by 11.5 percent in 2011, in comparison with the previous year.
Construction by the state budget, the communities, and the Armenian
Apostolic Church has increased. But the primary reason for the
drop is the reduction in the volume of construction financed by
the international organizations, and of the construction by private
organizations, and individuals.
The organizations account for nearly 45 percent of all construction
in Armenia, but there is 13.5-percent drop here. The second largest
financer of construction in the country is the state budget, which
has increased its funding by 15.2 percent. But the greatest growth is
recorded in the communities, with 5.9 times. And the community-financed
construction virtually equaled the international organization-financed
construction.
All international donors have considerably reduced their construction
financing, except for the German Development Bank (KfW) which has
secured a 2.2 more growth.
The volume of Armenian Apostolic Church-financed construction has
increased by 13.8 percent, but the residents' construction activities
have considerably dropped by nearly 30.5 percent.
From: A. Papazian