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RA Government Will Provide A Budget Guarantee Already To The 5th Con

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  • RA Government Will Provide A Budget Guarantee Already To The 5th Con

    RA GOVERNMENT WILL PROVIDE A BUDGET GUARANTEE ALREADY TO THE 5TH CONSTRUCTING COMPANY

    ARMENPRESS
    JULY 9, 2009
    YEREVAN

    YEREVAN, JULY 9, ARMENPRESS: During today's session Armenian government
    decided to provide a budget guarantee to "Vahe Harutyunyan" Company to
    enable it to accomplish the constructional works in Yerevan "Center -
    Administrative Unit", on Republican Street 51-53 address.

    RA Finance Minister Tigran Davtyan noted that it is being implemented
    according to a relevant decision of the Armenian government under
    the decision of providing budget guarantees to the construction
    implementers having unfinished constructions in order to enable them
    to bring the construction to an end.

    According to T. Davtian this is already the 5th company that gets such
    a guarantee. On his viewpoint positive shifts are already notable in
    this field.

    Referring to this decision RA Prime Minister Tigran Sargsyan noted that
    quite strict requirements are set up for providing budget guarantees,
    and in case of providing them the government pays the 30 % of the
    mortgage. By the way, money is provided only for the accomplishment
    of buildings having high construction level.

    By the Prime Minister's words the Central Bank has already promised to
    ensure the Hypothec Fund operate already this month, and the citizens
    will have the opportunity of acquiring new apartments.

    According to him the positive influence of this decision will gradually
    become prominent, and at the end of the year it will have its impact
    on the GDP. T. Sargsyan attached importance to the regaining of public
    trust towards the construction implementers emphasizing the necessity
    of serious oversight in what results the anti-crisis projects have,
    in what way the state means are spent so that an opinion is not formed
    that they don't serve to their goals.
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