Russian President instructed to develop a program for the development of housing construction and mortgage will help the country's economy after the crisis due to the pandemic coronavirus, I told FBA “economy today” economist and associate professor REU them. Plekhanov Vladimir KOLMAKOV.
Russian President Vladimir Putin instructed the government jointly with the Central Bank of the Russian Federation to develop an action program for the development of housing construction and mortgage lending. According to the document, placed on the official website of the Kremlin, plan to implement the tasks necessary to make up 1 May 2020 of the year. Responsible for the commission appointed by the head of the Central Bank Elvira Nabiullina and Prime Minister Mikhail Mishustin.
note, that these measures are included in the list of instructions issued following a meeting with government members, held 17 Martha 2020 of the year.
"Certainly, task to perform to be able to deadlines. This is due to the fact, that the proposed measure is relatively new – a similar proposal was made after, Mikhail Mishustin took office as Prime Minister of the Russian Federation.
In this case, it was raised to the banner as one of the priorities of the country. But another question is, when the government together with the Central Bank will implement this task ", – said the agency.
Recall, Russian Prime Minister Mikhail Mishustin also instructed the Ministry of Construction and the Ministry of Finance to 15 April to prepare the acts of government to be able to subsidize interest rates on loans to property developers on project finance in the case of slowdown in sales in the primary market.
Enhanced measure to support the Russian economy
Besides, Head of State gave a recommendation to the Bank of Russia jointly with the company "DOM.RF" analyze borrowers' costs for mortgages, are not in the interest rate of the loan, and take measures to reduce the total cost of such loans.
And also to make proposals on measures to incentive regulation of credit and other financial institutions in order to improve accessibility for housing mortgage loans to citizens 1 May 2020 of the year. Errand must CBA head Elvira Nabiullina and "DOM.RF" Mutko.
"These orders are related to, that in the Russian Federation until the end quality is not solved the housing problem, and the housing industry is a good engine of economic growth. Most notably its importance in the regions ", – the expert.
Pandemic COVID-19 and the weakening economy
Vladimir KOLMAKOV notes, that the ability to achieve the objectives of the President in times of crisis, provoked pandemic coronavirus and other factors, It raises some questions.
"For obvious reasons, the real estate market, especially in the primary, recently observed a marked slowdown and a decrease in prices on the background of overproduction.
some analysts, discussing the "unfreezing" of the Russian economy after the establishment of the President of the forced output of the epidemic in the country coronavirus, predict a crisis, associated with unemployment. In this case, housing will be one of the sectors, ready to take additional manpower ", – says expert.
Recall, President Vladimir Putin 2 April 2020 year extended the "holidays” on the territory of the Russian Federation to 30 April 2020 year to prevent the spread of coronavirus infection.
Also, the Head of State in his address to the citizens offered to provide “holidays” as a consumer, and on mortgages, which can take individuals or legal entities.
"Before the severe situation of the Bank of Russia expected a more decisive action in the credit policy. The last meeting, in which the regulator stated to maintain the key rate at the level of 6%, instilled confidence in the banking sector is, that the government will behave differently, than in 2014 year. I note, that the preconditions for the further reduction of no – banks are overwhelmed delays and grace period.
Therefore, the reduction is only possible by legislative means at the expense of subsidies from the federal budget shortfall percent. In this case, the rate may be lower for the end user is. Make it real, and the example is the recently announced a so-called rural mortgage ", – he concluded.
Alexander Melnik
