IMPORTANT URBAN CONSTRUCTION PROJECTS ARE CARRIED OUT IN YEREVAN IN FIRST HALF OF 2006

AZG Armenian Daily #144, 02/08/2006

Urban Construction Issues

Several important urban construction project are implemented in the
capital of Armenia in the first sixth months, 2006, to the sum of
about 36,5 bln drams against the envisaged 34,2 bln drams, the Mayor of
Yerevan, Yervand Zakharian, said at July 31 press-conference, summing
up the first six months, 2006. According to him, 29,938 bln drams of
financial means fall on the state budget of communal administrations,
316,7 mln drams are the costs of city significance. Y. Zakharian
noted that implementation of programs to the sum of 53,275 bln drams
was envisaged in 2006 on the whole. However, in view of the created
conditions, favorable from the viewpoint of financing, this sum was
increased to 68 bln drams.

Touching upon the activity of communities, Y.

Zakharian noted that the costs of communal administrations made up 5,72
bln drams against the envisaged 6,4 bln. On the whole, the incomes of
communities increased by 53,8% as against the similar period, 2004,
and by 19,7% or by 942,1 bln drams as against the first sixth months,
2005. At that, the own incomes of communities for the last two years
increased 2,5-3 times which is conditioned on the increase of tax
collection for property and land.

By Karine Danielian