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No effective mechanisms of reforming housing sector in place yet - Putin

October 02, 2012, 17:54 UTC+3

We have failed to produce effective mechanisms to reform this sphere

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MOSCOW, October 2 (Itar-Tass) —— No effective mechanisms have been established to reform the housing and sector, Russian President Vladimir Putin told the investment forum Russia Calling.

“We have failed to produce effective mechanisms to reform this sphere,” he said, adding that the condominium mechanism did not work effectively enough. “But the potential investment attractiveness is rather high.”

At the same time Putin pointed to the need for addressing one more issue, that of “cardinal reduction of corruption.”

He said different businesses and firms on the market were financed from municipal budgets.

“This mini-monopolism ruins the whole system,” he said, adding that struggle against corruption in the housing and utilities sector was a great challenge still to be dealt with.




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