13 January, Minsk /Ekaterina Markovich - BELTA/. The state will provide additional support to young families with children in housing construction. This was announced today during a live broadcast at "Narodnaya Gazeta" by Alexander Gorval, Head of the Housing Construction Department of the Ministry of Architecture and Construction of Belarus, as reported by a BELTA correspondent. "The state will pay off 10% of the balance of a preferential loan previously granted to a young family for housing construction upon the birth of their first child, and another 20% after the birth of the second child," explained Alexander Gorval. In addition, for the period of parental leave for childcare up to 3 years of age, young families are provided with so-called credit holidays, during which loan repayments will be suspended. "This is significant assistance to young families," said the Head of the Housing Construction Department. According to Decree No. 13 "On Certain Issues of Providing State Support to Citizens in the Construction (Reconstruction) or Acquisition of Residential Premises," only those young families who have two minor children as of the date of approval of the list for obtaining a preferential loan can count on a preferential loan for housing construction. They are granted a loan at 50% of the refinancing rate of the National Bank. Regarding the country's residential real estate market, the ministry representative suggested that the group of people who will not receive state support for housing construction will enter the commercial markets. "Today, demand still significantly exceeds supply, both in the state housing construction sector and in the commercial sector," he emphasized. The price per square meter of housing, according to Alexander Gorval, will depend on inflation. "If inflation is 19-22%, as projected in the country's socio-economic development program for 2012, then the price will be approximately in the range of Br3.6-4 million per square meter; if inflation reaches last year's level, the cost will be completely different," emphasized Alexander Gorval. -0-

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