Putin orders Russia focuses on families’ wealth growth

MOSCOW, Jan 15 (PRIME) -- Russians’ wellbeing should grow every year, President Vladimir Putin called on parliament on Wednesday and prolonged a maternity capital program until the end of 2026.

“Now this program ends on December 31, 2020. I know that many people ask the question: What does the government intend to do after December 31, 2020? We will extend this program. At least until December 31, 2026,” he told the Federal Assembly, both houses of parliament.

Families will now receive a 466,617 ruble maternity capital even after the birth of the first child starting from January 2020. Previously the funds were only paid to the families with two kids.

After the birth of a second baby the payout will be increased by 150,000 rubles, Putin said.

“Thus, maternity capital for the families with two kids will amount to 616, 617 rubles and will be indexed in the future,” he said.

The president called on all banks, not only state-run, to participate proactively in 2% mortgages for families with children in the Far East. “A social program for young families was launched in the Far East – mortgages at 2%. I am asking banks, not only the state-run ones, to join its fulfillment more actively,” he said.

Putin also ordered to pay 5,500 rubles a month per child aged between 3 and 7 and possibly double the sum in 2021.

“The payments are meant for the families whose income does not exceed one subsistence level per capita, or the families with bad, really bad situations,” he said.

(61.4140– U.S. $1)

End