Russia: Russian Government to Support Residential Housing Construction
The Russian Government is ready to maintain the volume of completed residential construction in 2009 at the same level at which it stood last year – 63 million m2. Public officials even expect that last year’s level could be exceeded by 4 million m2. Officials are developing a range of measures to support the construction industry, and some steps have already been taken – for example €2 billion was spent on purchasing housing for the military last year, and a further €4.7 billion will be allocated this year. Analysts doubt, however, whether such a goal can be achieved given the lack of credit resources.
Source: www.constructionukraine.com