Yerevan /Mediamax/. Armenian Prime Minister Tigran Sargsian stated today that construction sphere in Armenia was the one to suffer most from the crisis.

Mediamax reports that Tigran Sargsian noted that private investments into construction sphere, which were mainly attracted from Russia, have cut down by 40% and in fact the decline in construction sphere in Armenia has the same volume as well.

The Prime Minister reminded that the government offers state guarantees to developers, who have unfinished objects. Tigran Sargsian stated that “Elite Group” Company has already received state guarantees, and at the next session the government will provide guarantees to three more private companies.

Head of the government noted that the volume of funding in the sphere of construction will be gradually increased, which will lead to reduction of decline speeds.

Tigran Sargsian also stated that Armenia starts new programs in the sphere of rural road construction with the World Bank and Asian Development Bank, within the framework of which roads with the total length of about 1000 km will be built.