The construction boom in Armenia will continue for a long time. Pashinyan

YEREVAN, JUNE 15, ARMENPRESS. There is a construction boom in Armenia and it will continue for a long time, because the government is making a new decision, ARMENPRESS reports, Prime Minister Nikol Pashinyan said during the discussion of the bill on approving the annual report on the implementation of the 2022 state budget of the Republic of Armenia in the National Assembly.

The Prime Minister noted that the opposition thinks what the Armenian government has to do with the 12 percent economic growth of 2022.

"I have to disappoint, don't I? There is a big construction boom in Armenia today. How did that happen? It is related to a very specific program of the government, when we decided that we will continue to return the income tax for the mortgage loan and after January 1, 2025, this system will not work in Yerevan. And all those investors, who knew that there is a huge demand for housing in Yerevan, rushed to invest, because in 2022, the 35 billion drams were not going to be invested in that project. That construction boom will continue for a long time, because we are now making the next decision," said Pashinyan.

“In 2025, the program will leave Yerevan, in the next phase, most likely, from January 1, 2028, it will be closed for regions near Yerevan. And the program will be available for all other regions.

And this construction boom, saturating Yerevan and the regions near Yerevan, will reach the most remote settlements of Armenia. Today we see its phenomena. We have newly built buildings in Kapan, we also support with state programs to increase purchasing power and competitiveness in the market," said the Prime Minister.

According to him, in those constructions, equipment is being used that has not been in Armenia for 30 years. According to the Prime Minister, it was also due to the state program for the modernization of the economy, by which the state subsidizes the interest on the loans taken by the companies for purchasing equipment.