Government of Russia has set a goal to reduce rates on mortgage loans of up to 7% per annum. This is in conversation with journalists told the vice-premier of Russia, Alexander Zhukov. According to him, despite a slight decline in rates this year, mortgage loans are very expensive and inaccessible by a large segment of the population. Zhukov added that reduce the rate to 7% will be possible only after the inflation in Russia will fall to less than 5%. «We will strive to make this happen as soon as possible», - said Zhukov.
Vice Prime Minister noted that over the next three years, the Government projected decline in inflation to 6-7% per year, while in 2006 inflation not exceed 9%.
Source: «Prime-TASS»
