PM says Russia raises limit for mortgage grace period

MOSCOW, Apr 10 (PRIME) -- The Russian government has raised the limit of mortgage eligible for a grace period to 4.5 million rubles for Moscow, 3 million rubles for the Moscow Region, St. Petersburg and the Far Eastern regions, to 2 million rubles for the rest of the regions, Prime Minister Mikhail Mishustin said on Friday during a meeting on economic issues.

"The president held an online meeting with the heads of the regions on Wednesday, where he declared new support measures, gave clear orders to the government. We have fulfilled some of the orders. One of them concerns mortgage. We raised support of those who took a loan to buy real estate. I have signed the order," Mishustin said.

He said that the government continues to prepare new measures of small business support.

"We are actively preparing a legal base for new support measures for the small and medium-sized business including an annual grace period on loans and fees, whose payment deadline we have postponed earlier, and to give an opportunity to suspend the payroll tax payment to the extra-budget funds for six months as well," the official said.

The government will compensate the regions for the shortfalls in taxation of small and medium business, he said.

(74.6050 – U.S. $1)

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