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Diana Ghazaryan

Construction Levels in Armenia Drop by 14%

Construction in Armenia decreased by 14% in the first quarter of the year when compared to the same period in 2016.

Construction in the first three months amounted to 35 billion AMD (US$72 million).

Data released by the National Statistical Service says 22% of the construction was financed by private means.

Construction projects financed by international loans dropped by 65% in the first quarter; the largest decrease overall.

50% of the construction was in immovable property, and 12% in the transportation sector.