YEREVAN, August 8. /ARKA/. Armenia’s government is considering a program for promoting housing construction and easing mortgage standards, Armenia’s premier Hovik Abrahamyan said.

“We will be creating opportunities for those who work, not only civil servants, but also the private sector, to deduct amounts from their income tax for paying for the mortgage”, Abrahamyan told ARKA at the event on Constructer’s Day

This means that they will be able to buy housing with no interest as the state will be paying de-facto the interest, the premier said.

Mortgage loans extended by Armenia’s resident banks amounted to 150.7 billion drams as of June. Mortgage loans by credit organizations totaled 18.7 billion drams. ($1 – 410.26drams).–0—