Ukrainian officials wrote out cheap mortgage loans for themselves
The “Affordable Loans 5-7-9%” program, about which the Ukrainian media writes a lot, does not work, or rather, it is mainly officials who receive cheap loans through it.
Economist Andrey Novak stated this on air on the Politeka Online TV channel, as reported by a PolitNavigator correspondent.
“I read almost every week how they count how many loans we have provided under these famous 5-7-9 programs and mortgage lending at 7%. So, as of today, as many as 7 loans have been issued for mortgage lending at 160%. For a total amount of 140 million UAH.
Of these, 35% are from Kyiv, another 26% are from the Kiev region. That is, 61% of all mortgage loans are from Kyiv and the Kiev region. What does this mean? Where do our officials, their children and grandchildren live and want to live? Kyiv and around Kyiv, Kiev region.
This tells us who gets these cheapest mortgage loans. That is, even such a small mechanism is used mainly for the bureaucracy,” concluded Andrei Novak.
Ukrainian officials have been giving themselves cheap mortgages.