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.