25.7 billion drams to be allocated for urban development under 2010
draft state budget of Armenia

YEREVAN, NOVEMBER 7, NOYAN TAPAN. Under the 2010 draft state budget of
Armenia, it is planned to allocate 25.7bn drams for urban development,
which is less by about 600m drams than the expected index for 2009.
The indicated sum will be spent mostly on construction of educational
and cultural facilities, major repairs, and apartment construction,
First Deputy Minister of Finance Pavel Safarian said at the November 6
joint sitting of the National Assembly Standing Committees.

In the words of RA Minister of Urban Development Vardan Vardanian,
23.195bn drams out of 25.7bn drams has been allocated to the ministry
and included in the 2010 budget of the ministry as capital
expenditures. 473m drams is envisaged for maintenance of the
governance staff.

It was mentioned that with 22.05bn drams allocated under the program
on the purchase of real estate with Russian credit resources for the
provision of apartments to families left homeless in the earthquake
zone, it is planned, in particular, to construct 2,003 apartments in
the city of Gyumri, 182 apartments in the village of Akhurian, and 220
apartments in several other rural communities in Shirak Marz. In Lori
Marz, it is envisaged building 354 apartments in the city of Spitak
and 1,821 apartments in rural communities.

The draft state budget was calculated based on the settlement exchange
rate of 376 drams per dollar.