Housing construction Russia up 5% on year in January–July

MOSCOW, Sep 1 (PRIME) — The volume of housing built in Russia increased 5% on the year to 24.35 million square meters in JanuaryJuly, the Regional Development Ministry said in a statement Thursday, RIA Novosti reported.

Moreover, a federal special purpose program called Housing envisages an improvement of housing conditions for 172,000 young families in 20112015, the ministry said citing Regional Development Minister Viktor Basargin.

The Russian government plans to allocate 28.2 billion rubles from the federal budget for this program, up 45% from the funding allocated in 20062010. The regional and municipal budgets are to allocate a total of 65.8 billion rubles for the program, up 36% from 20062010.

(28.9278 rubles U.S. $1)


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