Head of the Ministry of Economic Development Maxim Reshetnikov said that the decision of the Russian President Vladimir Putin on the extension of the program of the preferential mortgage turned out to be “stunned”. He told about this “Izvestia.”
“The decision on which the president was announced, stated, but balanced. It will allow the market to gradually go out of dependence on anti-crisis measures and adapt to the situation,” he said.
As a result, the minister explained, “Mortgage is very good.” In the case of a sharp stop of this program, the industry would face the failure of demand, freezing or refusal from new projects.
“We have taken percentage risks on a preferential mortgage. The beneficiaries of this program are citizens, so it is considered not only and not as much as an element of the economy stimulation, but as a measure of social policy,” the reshetnikov noted.
On June 4, Putin at the plenary session of the St. Petersburg International Economic Forum made a proposal to extend the program of a preferential mortgage for a year and raise a bet to seven percent per annum. The maximum loan amount also wanted to limit the three million rubles. The head of state called the program “One of the key anti-crisis measures to support citizens and the economy.”
Later, the head of the Ministry of Economics Irek Faizullin said that the decision to extend preferential mortgage programs would not become a “some driver of the next increase in housing prices.” “Some trends in the development of the housing market of 2021 show that we are going to stabilize the balance of supply and demand,” he indicated, explaining that the previous price increase was caused by preferential programs and consequences of the coronavirus pandemic.