The occupiers acknowledged a fivefold decline in construction in annexed Crimea

The occupying authorities in Crimea have acknowledged a severe crisis in the peninsula’s construction industry. To save the market from a complete shutdown and preserve jobs, the occupiers are proposing to introduce a preferential mortgage with a 6% interest rate.

This was reported by Golos Kryma. 

Journalists cite a statement by Vladimir Konstantinov, the occupation head of the Crimean parliament, who announced on the propaganda radio station “Sputnik in Crimea” that the peninsula’s construction sector had shrunk fivefold. 

The occupation official commented on a proposal by the so-called “governor” of the temporarily occupied Sevastopol, Mikhail Razvozhayev, to introduce a preferential “Crimean mortgage” for Sevastopol and Crimea. In his view, the new measure will allow people to purchase housing, while enabling construction companies to preserve jobs and prevent the industry from grinding to a halt. Vladimir Konstantinov responded by stating that any such measures are positive. According to him, this is very important for the construction industry.

Konstantinov also cited the example of the tourism industry, which received three minimum wages per employee. He said that many people used this money to pay off their debts. In his view, this is normal. 

As Intent previously reported, in September in occupied Crimea—amid a prolonged energy crisis and severe power outages in residential buildings—the Russian-controlled authorities prioritized supplying electricity to large-scale construction projects. While local residents were left without basic living conditions for days on end, the peninsula’s energy resources were prioritized for the construction of new residential complexes and infrastructure projects.

Юлія Калабайда