The Russian government will allocate an additional 45.5 billion rubles for the implementation of mortgage programs. As Prime Minister Mikhail Mishustin explained, the programs are in high demand among Russians, so the budget funds provided for them have almost run out. </p><div> <p>“Most of the resources will go to finance the preferential mortgage program, we will allocate almost 16 billion for family mortgages, more than 4 billion for Far Eastern mortgages,” Mikhail Mishustin said at a meeting of the Cabinet of Ministers.
He also recalled that the government systematically supports preferential mortgage programs. In particular, on behalf of President Vladimir Putin, the issuance of mortgage loans at 7 percent per annum has already been launched.
Earlier, the passport of the federal project “Mortgage” was published on the website of the Ministry of Construction of the Russian Federation. The document states that by 2030 the amount of funds raised in housing construction through mortgages will increase to 7.7 trillion rubles.