A 10-12 percent increase in Armenia’s construction sector is expected this year, RA Minister of Urban Development Vardan Vardanian told journalists. However, he found it difficult to forecast any increase in the private construction sector – or construction can survive only under state programs, the Minister said.

Last year, 36.4% decline was registered in Armenia’s construction sector, the largest decline in the Armenian economy.  This January-April, an 8.8% increase was registered.

Minister Vardanian pointed out a number of construction projects that have not been completed for lack of funds. The project owners have to present well-founded applications for the funds necessary for completing the projects for the ministry to submit them to the Government.