USD 500 billion needed to reform Russian housing sector

The Russian Ministry for Anti-Monopoly Policy and Business Support estimates that USD 500 billion is needed to reform the housing sector in Russia. Deputy minister Anatoly Golonolzin put forward this figure yesterday at an internal ministry meeting on 'The role of anti-monopoly organs in demonopolizing and reforming the housing sector'.

Golonolzin said that this was 'a rough figure that could be made more accurate by holding an audit and serious discussions.' He also announced that the ministry would not allow the recently formed Russian Communal Systems company to monopolize regional housing service markets. 'In each individual case the ministry and its regional branches will examine the issue of allowing companies into the housing services markets in order to ensure that competition and consumer rights requirements are met.'