He noted that the housing and communal services sector "is chronically underinvested, according to estimates, by 4.5 trillion rubles."
According to the president, over 40% of the network is to be replaced, "hence the low efficiency and large losses."
He added that about 3% of the network falls into disrepair every year, and no more than 2% is replaced by a new one.
The President explained that "the problem is getting worse from year to year."
“I propose to consolidate resources and launch a comprehensive program for the modernization of housing and communal services, synchronize it with other plans for infrastructure development and major repairs of the housing stock,” he said.
Earlier, Putin proposed launching an “industrial mortgage” in Russia at 5% per annum for enterprises.