Armenian Minister of Urban Development Vardan Vardanyan said that 10-12% growth will be recorded in Armenia’s construction industry by the end of 2010 compared to 2009.

The global crisis has first of all affected the construction industry, as a result of which a considerable drop was recorded in it in 2009, Vardanyan told a press conference in Yerevan on December 22.

At the same time, Vardanyan is optimistic about the future.

“I strongly believe that the growth in the industry will be higher in 2011 compared to 2010. It is proved by the funds, which are envisaged under the state budget,” he said.

According to updated data of the RA National Statistical Service, 3.8% drop was recorded in Armenia’s construction industry in January-November 2010.

AMD 9.6bln is envisaged to be allocated to the RA Ministry of Urban Development under the state budget in 2011 against AMD 6.2bln in 2010.