How Kremlin entices people into war with low-cost mortgage
The State Duma of the Russian Federation plans to introduce a subsidized mortgage rate of 2% per annum for the so-called “smo” participants.
Despite large budget allocations for those who voluntarily sign contracts to participate in the war, the Kremlin is facing a steady decline in the number of people willing to fight. Instead, the high casualties require constant replenishment of manpower.
In these circumstances, the Russian authorities are introducing new incentives aimed at encouraging Russian citizens to go and kill Ukrainians. The subsidized mortgage is another attempt to address the issue of decreasing recruitment.
Currently, the mortgage rate in Russia without benefits is as high as 35%. There is also a so-called subsidized “family mortgage,” which has an interest rate of about 6%, but this program is frequently underfunded. As a result, the down payment for a subsidized mortgage has been raised to 50%, making it unaffordable for most Russians.
