TODAY.AZ / Business

Terms of mortgage credit are severe at present

23 February 2006 [08:55] - TODAY.AZ
30% of property value that must be paid under mortgage crediting is high amount in the present situation, the Minister of Youth and Sport Azad Rahimov told.

But, as APA reports, later he added: "However, it is like that all over the world".

According to Mr.Rahimov, the National Bank should allocate large amount of funds in order to even partially solve the housing problem of young families.

The Minister informed that a meeting devoted to problems of the youth will be held till the end of February in cooperation with the Ministry of Culture and Tourism: "Any young person can submit his/her proposal to the Ministry. All interesting proposals will be taken into account. We will strive to expand activity of the youth in various fields; however, the main problem is elimination of the unemployment problem".


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