ANTI-CRISIS SYSTEM TO FINANCE CONSTRUCTION ENGINEERING, EXEMPLIFIED BY MOSCOW PROGRAM “PEOPLE’S GARAGEâ€

E. D. Shcherbachev

Russian Journal of Industrial Economics, 2015, issue 2

Abstract: The global financial crisis has made the Russian financial system staggering, and the necessity arouse to attract additional funds to various industrial branches. The most acute shortage of resources fell to the building industry. In the fourth quarter of 2008 there appeared a real threat of bankruptcy for the majority of building enterprises because of the absence of new construction orders and curtailed funding the completion of objects under construction. The most difficult was the situation at the enterprises which are not operating under state orders (allocation of budgetary funds for the construction of social objects has not been stopped). The government comprehended the necessity of additional measures to support construction industry, which in Moscow take the form of a target program to build garages “People’s garage†. The program implementation has attracted cash of citizens and provided the building organizations with construction orders.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ach:journl:y:2015:id:358

DOI: 10.17073/2072-1633-2011-2-84-88

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