The head of the Ministry of construction allowed the rise in the cost of building materials due to the weakening of the ruble
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Russian Minister of Construction, Housing and Communal Services Irek Fayzullin said that foreign equipment and building materials will rise in price due to the weakening of the ruble. He assured that there would be no “strong distortions” in the cost of a “square”.
“Various (construction.— “b”) objects, they are now carefully looked at and their change in value is estimated upward due to a change in the exchange rate (currency— “b”). Of course, there will be some price increase. This is the equipment that is imported (from abroad.— “b”), and technological equipment – sound, light, some types of medical equipment,” Mr. Fayzullin said in an interview with Russia 24 (quoted from Telegram channel government of the Russian Federation). The minister said that about 95% of the materials used in construction are domestic.
In response to a question about how the weakening of the ruble will affect the growth in the price per square meter of housing, Mr. Fayzullin said, in particular, that the change in the exchange rate will lead to a decrease in demand for housing.
By data According to the Federal State Statistics Service, building materials in July rose by an average of 0.8% compared to the previous month. It is clarified that in monthly terms, metal tiles rose in price by 4.8%, packed cement – by 3.3%, drywall – by 1.9%, particle boards, oriented strand boards – by 1.5%, edged boards – by 1, 3%.
According to the Bank of Russia, in July the ruble weakened against the dollar by 2.3%. In early August, the dollar against the ruble began to rise sharply. On August 9, for the first time since March 2022, the dollar exchange rate exceeded 98 rubles, and the euro exchange rate – 107 rubles.
Despite the rise in prices for materials and equipment, the volume of construction this year, according to analysts’ forecasts, will grow by 7-11% year-on-year, to 15.5 trillion rubles. This year, projects in the construction industry that were postponed in 2022 began to be actively launched.
More details – in the material “Construction is replenished with projects”.
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