Source Pravda.Ru

Deputy Moscow mayor comments on city's budget revenues

Moscow's budget revenues from the property and real estate sector willadvance to $1bn in 2004, Oleg Tolkachyov, deputy Moscow mayor, head of theproperty and real estate department of the Moscow government, declared atan Internet press conference organized by RBC. According to him, in 2004the revenues will reach the pre-crisis level of the year 1998. Tolkachyovconfirmed that in 2002 revenues from this sector would be 17bn rubles($539m) and 23bn rubles ($730m) in 2003.The official also noted that one of the main sources of revenues would berent payments, which reserves were not used in full volume. "We realizeperspectives of development of the work with property and land", the deputymayor concluded..