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Russia unveils mortgage relief to boost support for larger families

A bold plan to slash mortgage rates for parents could reshape Russia's future. Will lower costs inspire families to grow?

The image shows an old black and white photo of a family posing for a picture in front of a wall...
The image shows an old black and white photo of a family posing for a picture in front of a wall with a curtain in the background. At the bottom of the image, there is some text which reads "Russian family in the early 1900s".

Large Families Should Be Promoted Without Pressure or Restrictions, Expert Says

Russia unveils mortgage relief to boost support for larger families

Demographic policies must not put pressure on people—such an approach simply will not work. This was stated by Sergei Novikov, head of the Kremlin's Public Projects Directorate, at the conference "Russia's Demographic Shift: Paths to Achievement."

He noted that Russian society has grown weary of prohibitive rhetoric. According to Novikov, it is particularly wrong to pressure those who are only beginning to consider having a child or transitioning to the status of a large family.

Novikov emphasized that people already face numerous challenges and anxieties when having a child. In such circumstances, he argued, the priority should not be imposing additional restrictions but rather creating supportive conditions.

He believes a more effective strategy is to foster a societal atmosphere where large families are seen as the norm. This means providing support, economic stability, and confidence in the future so that people feel secure in having children.

Earlier, Maxim Oreshkin, a deputy chief of staff in the presidential administration, reported that the global population would peak by 2046. While the world's population continues to grow, the share of working-age citizens is declining.

In Russia, families with four children may qualify for partial mortgage relief under a proposed scheme. The interest rates would be structured as follows: one child—10%, two children—6%, three children—4%. The measure is expected to be finalized by June 1.

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