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    HOUSING CONSTRUCTION TO REACH 80 MILLION SQUARE METERS A YEAR, SAYS YAKOVLEV

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    MOSCOW, FEBRUARY 25, 2004. (RIA NOVOSTI). The volume of housing construction in Russia will reach 80 million square meters a year by 2010, believes acting deputy prime minister Vladimir Yakovelv.

    In 2003, 36 million square meters of housing were built, he said at an enlarged session of the Russian State Construction Committee.

    "Construction is a driving force in the economic development," the acting vice prime minister said and added that "the experience of foreign countries shows that construction and the development of the mortgage service can solve many tasks." Yakovlev believes that the development of the mortgage service and creation of the legislative basis in this sphere allow to considerably increase the volume of mortgage housing construction by 2005.

    "Mortgage can help those people who want to independently solve their housing problems," Yakovlev pointed out.

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