Vladimir Putin instructed the government to extend the family mortgage program until June 1

CrimeaPRESS reports:

The President of the Russian Federation instructed the government to extend the validity of the state family mortgage program until 2030, providing for maintaining the rate at a level of no more than 6%. The list of instructions for implementing the message to the Federal Assembly is published on the president’s website.

The head of state also instructed to establish special conditions for obtaining a loan within the framework of a family mortgage in regions with a low level of housing construction, as well as in small towns. The deadline for implementing the order is June 1, 2024— reports Interfax-Real Estate.

According to the Ministry of Finance, additional federal budget expenditures on the family mortgage program associated with its extension and the increase in the key rate will amount to approximately 260 billion rubles this year. The overall forecast expenditure, taking into account the extension of the program until 2030, is 1.5 trillion rubles. The final figures will depend on the trajectory of the key rate.

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