Putin has suggested the government to reduce the mortgage rates without increased load on the budget – Vedomosti

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Russian President Vladimir Putin instructed the government and the Bank of Russia to find a way to lower interest rates on mortgages without additional burden on the budget.

“Mortgage – a powerful engine housing the Government, together with the Central Bank, of course, to look for ways to reduce the rate on such loans, -. Putin said at a meeting of the State Council on Tuesday -. It is necessary to look for new mechanisms for attracting financial resources in the mortgage, it does not burden the budget of the new additional costs. ”

“I know that the working group of the State Council has the relevant proposals”, – said the head of state.

The construction industry, which accounts for about 6% of GDP, has the potential to be a key driver of the Russian economy, Putin said. According to him, in 2014 was introduced 84.2 million square meters in operation in Russia. m of housing in the past year, even more – 85 million “At the same time increased by 20% the volume of economy-class housing,” -. said the president.

At the same time, according to him, the need to improve housing conditions still remains high. “And to meet this demand is only possible with the help of reliable market-based mechanisms, including mortgage lending,” – said Putin, adding that in the past five years, it is this tool will increase the volume of housing construction by 60%, and in economy class – 90%.