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Ukraine's PM promises affordable mortgage at 5%

Source : 112 Ukraine

Shmygal also noted that for certain categories of citizens the mortgage rate should be reduced even more
18:54, 10 February 2021

Reuters

Ukraine intends to reduce the annual mortgage rate. At the end of January, the Cabinet of Ministers supported President Zelensky's initiative of an affordable mortgages within 7% per annum. The launch of this project is scheduled for March 1st.

Related: Dollar exchange rate not to exceed 30 UAH/USD by 2024, - Ministry of Economic Development

This compensation can be used by citizens of Ukraine who want to buy an apartment and those who want to build a house on their own.

Prime Minister announced an even greater mortgage reduction - up to 5% per annum.

"We intend to work in the first half of 2021 and create the possibility of financial leasing and mortgage at 5%," Shmygal said.

Shmygal also noted that for certain categories of citizens the mortgage rate should be reduced even more.

"Of course, for certain categories of citizens, the rate should be reduced even more," he said.

The average mortgage rate in 2020 decreased from 19.2% to 12.8% per annum.

Meanwhile, Ukraine is obliged to pay 5.8 billion dollars in foreign debt by the end of this year. This was stated by the country's Ministry of Finance.

It is reported that the peak of payments will be in September. During this period, it is necessary to pay 20.71 billion hryvnias (746 million dollars) on external public debt and 81.4 billion hryvnias (2.9 billion dollars) on external public debt. In June - 59.97 billion hryvnias (2.1 billion dollars) in foreign debt and 17.11 billion (616.3 million dollars) hryvnias in domestic debt. In March - 78 billion hryvnias (2.8 billion dollars) in foreign and domestic debts.

Related: Cabinet of Ministers confirms the State Mortgage Institution acquired $500 million loan

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