Russia to allocate $36,6 bln to its national housing project

Russia to allocate $36,6 bln to its national housing project
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The Russian government can increase almost 2.5 times the funding for a program “On the Provision of Affordable and Comfortable Housing and Public Services to Citizens of the Russian Federation by 2025,” as it follows from a draft government resolution.

According to the document, the total amount of financial support for the program will amount to 2,5 trillion rubles ($36,6 billion). The currently approved financing of the program is estimated at 1,1 trillion rubles, as it follows from the government resolution in the Consultant database. At the same time, the federal budget allocates 1,89 trillion rubles for the program against 893 billion rubles for the current program.

In early May, President Vladimir Putin issued a decree “On National Goals and Strategic Tasks for the Development of the Russian Federation until 2024”. In particular, the President instructed the government to increase the construction of housing up to 120 million square meters per year.