Mishustin instructed to prepare documents to reduce the rate on preferential mortgages to 9%

“I ask the Ministry of Economic Development, the Ministry of Finance and the Ministry of Construction to promptly prepare all legal documents so that the changes are implemented as quickly as possible,” TASS quoted him as saying.

Earlier, Russian President Vladimir Putin proposed to reduce the interest on subsidized mortgages from 12% to 9% per annum.

As the head of state noted, the current situation in the economy allows such a step to be taken.

At the same time, the Russian leader instructed to extend the program until the end of 2022.