Russian Duma Chairman Proposes Lowering Mortgage Rates for Rural Youth

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To reduce the outflow of young people from the countryside, it is necessary to sharply reduce the mortgage lending rate.

This opinion was expressed by Leonid Slutsky, the head of the State Duma Committee on International Affairs, chairman of the LDPR party, during the round table “Reducing disproportions in the socio-economic situation of Russian regions as a necessary goal of national development” in the Russian State Duma.

“Young people are rapidly leaving the village. The Bologna system sucks and pumps out personnel to large cities, and in principle, young people in the village today have nothing special to do,” Slutsky noted. There is only one way — to lower the mortgage lending rates even more significantly, so that it is easy to build and stay in the place where a person was born, the parliamentarian believes.

Currently, the Rural Mortgage program allows you to obtain a mortgage loan for the purchase or construction of housing in rural areas at a rate of up to 3 percent.

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