Budget costs for preferential mortgages will exceed plans

by time news

The growth of the key rate makes servicing preferential mortgage programs more expensive for the country’s budget: the amount of compensation to banks directly depends on the level of the key rate, and it increased from March to October from 4.25 to 7.5%. This year, budget spending on reimbursing banks for lost interest income by 14 billion rubles. exceeded the volume planned by the budget, Deputy Finance Minister Alexei Moiseev said at a meeting of the State Duma Committee on the Financial Market on October 25. At the same time, the department’s calculations did not take into account the latest increase in the Central Bank rate by 0.75 percentage points on October 22.

“We are now calculating how much it will cost for the budget next year, but already now I can say that before that we came out with a deficit of 14 billion rubles. and we will need to provide additional funding during the execution. And taking into account the latest increase, which is not taken into account anywhere else, we will go over 100 billion rubles. the cost of subsidizing only our three main preferential programs, “- assessed Moiseev, without specifying how much additional costs will be required for preferential programs.

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