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Mishustin states the importance of supporting the construction industry

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In the context of the spread of coronavirus, it is necessary to support the housing construction industry, Russian Prime Minister Mikhail Mishustin said on Monday, March 6.

He stressed that a number of relevant resolutions have already been signed, including assistance to construction companies that build residential buildings.


“Recently, this industry has switched to a new scheme of work using so-called escrow accounts. This has seriously changed the entire financial component of projects, increased the responsibility of developers and the confidence of buyers. The spread of the coronavirus has led to new risks, so support for the housing construction industry is needed, ” Mishustin said during a meeting with Deputy Prime Ministers.


In addition, Mishustin announced the cancellation of penalties for housing developers who violated obligations, from April 2 to January 1, 2021. For the same period, apartment buildings will not be included in the register of problematic assets.

According to the Prime Minister, this measure will allow businesses not to fear the threat of bankruptcy and keep promising projects, and buyers, in turn, a guarantee to get their apartments.


Earlier, Mishustin called the decision of the governors of several Russian regions to close administrative borders an unacceptable measure.

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According to the Prime Minister, these measures have led to precedents when people could not travel to the territory of their region.

In Russia, 954 new cases of coronavirus were registered per day. Thus, the total number of people infected in the country was 6,343. Cases were recorded in 80 regions.

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