NEWS & EVENTS: Breaking News
29.06.2009 11:04
June 29. Russian PM Vladimir Putin proposed not allocating budget funds to new construction projects starting in 2010. At a meeting with leaders of parliamentary groups, he stated that in recent years the pace of construction has been extremely high. “We’ve been seeing very strong growth, but it is hard to maintain the previous pace amid the crisis”, he said. “It would be dangerous to expand budget allocations for this sector”. Putin reiterated that more budget funds were pumped into the construction sector in 2008 vs. 2007 – over RUB 100 bn. “However, since the crisis hit, the sectors with the highest investments have suffered the most”, he stressed. Putin also pointed out that a housing construction support fund was established to which state lands have been assigned. “Unfortunately, it has not yet begun to operate”, the PM stated.
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