The extension of the maternity capital program is seen as a strategic move to address demographic challenges in Russia, particularly in light of low unemployment and a growing demand for skilled labor.
Experts believe that the program has contributed to an increase in birth rates and improved financial stability for families, thereby reducing social inequality.
The ongoing discussions about expanding the program to include vehicle purchases reflect the government's commitment to adapting social support mechanisms to meet the needs of families.
The maternity capital program's extension is likely to lead to an increase in birth rates in the coming years, as families may feel more financially secure in having additional children.
As the government continues to explore ways to expand the program, we may see new initiatives aimed at further supporting families, potentially including more flexible spending options for maternity capital.
The focus on demographic issues may prompt additional policies aimed at attracting skilled labor to address the workforce shortages in various sectors.
The Russian government has announced the extension of the maternity capital program until 2030, a decision made at the initiative of President Vladimir Putin. Prime Minister Mikhail Mishustin highlighted the program's effectiveness in supporting families, indicating that nearly 5 million more families will benefit from this extension. The maternity capital program, first introduced in 2007, was initially set to expire in 2026 but will now continue to provide financial assistance to families with children, including first-borns since 2020.
As of January 1, 2024, maternity capital will only be available to Russian citizens at the time of their child's birth, with exceptions for residents of certain regions. The current financial support amounts to approximately 630,400 rubles for the first child and 833,000 rubles for the second, with annual indexing expected to increase these amounts in 2025.
The program allows families to use the funds for various purposes, including housing improvements, education, and social integration for children with disabilities. Additionally, families with three or more children can access a state subsidy of 450,000 rubles for mortgage payments, significantly enhancing their financial stability.
