Friday, January 27 2012 17:06
Excessive activity in construction sector is fraught with serious consequences for Armenia's economy
ArmInfo. Excessive activity in the construction sector is fraught with serious consequences for Armenia's economy, the founder of the Alternative Analytical Center Tatul Manaseryan said during a press-conference on Friday, January 27, 2012
He said that this year, unlike the crisis years, this sector will be active due to growing tensions in Iran. "The growing inflow of businessmen will lead to rising activity on the housing market," Manaseryan said,
The National Statistical Service of Armenia reports that in 2011 construction in Armenia declined by 11.5% to 481bln AMD or $1.3bln. But in Dec 2011 it already grew by 33.5%.
Experts say that Armenia's construction sector is experiencing hard times. The housing market depends on two factors: the social-economic situation, which is deteriorating, and the price expectations of the population, which are low.