Pashinyan says Armenia to experience construction boom soon

Pashinyan says Armenia to experience construction boom soon

11:42,

YEREVAN, MARCH 27, ARMENPRESS. Major construction projects will be carried out in Armenia also by state programs, with significant construction growth having been recorded in January and February of 2019 already, Prime Minister Nikol Pashinyan said in parliament today.

“Very interesting processes have taken place in the construction sector. We’ve had growth exceeding 20% in both January and February in the construction sector. On the other hand, serious growth is observed in the mortgage crediting sector. In January this year, mortgage crediting grew 77%, and 100% in February against last year’s same period. The portfolio volumes of mortgage loans grew 30%, in absolute figures – 70 billion drams. This means that from May of last year until now citizens of Armenia have made nearly 150,000,000 dollars in transactions of acquiring apartments. This means that citizens of Armenia are demonstrating confidence towards their own future”, he said, describing it as “the best display of optimism for the future”.

“And these figures allow us to say that Armenia is on the eve of a construction boom”.

He said this means that numerous jobs will be opened in this sector.

The PM said these positive figures show the development dynamics.

Edited and translated by Stepan Kocharyan