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Greater Moscow Federal Buildings Funded by Vacated Real Estate, says Dvorkovich

12.04.2012 11:09 / Interfax

Construction of new building for federal government bodies, relocated from central Moscow, will be funded by selling the premises they will vacate, says Presidential Aide Arkady Dvorkovich.

He told the press that the relocation cost is yet unclear, saying “The issue has yet to be seriously considered, although we have some preliminary estimates”.

“Generally, the price of the houses vacated by federal bodies will just about cover the cost of new buildings. I am not talking about all of Greater Moscow, just the federal authorities”, he said.

“Transport infrastructure is a costly thing, but we would have needed it anyway, be it in Moscow or the Moscow Region”, stressed Dvorkovich.

He denied that the budget deficit would be affected by the plans. “It will not affect the budget, we are talking financing schemes that do not create a burden for the budget, if we take construction. As for transport, these plans have already been green lighted despite the decision to relocate”, said the Economics Aide.

“Budget deficit will not exceed the expected limits. We have plans and obligations, the budget deficit will be contained within reasonable limits, as will be the case with sovereign debt”, he thinks.

Project Group №5Arkady Dvorkovich