In May 2012, Ukraine will launch a state mortgage program, President Viktor Yanukovych said at today’s extended meeting of the Cabinet, ForUm learned from the presidential press office.

"The interest rate for people will not exceed 2-3%. The rest will be covered by the state. The loans will be given for 10-15 years," said Viktor Yanukovych.

According to the President, the implementation of this program will ensure orders to construction companies, create jobs, raise the level of construction materials production, and increase the demand for Ukrainian steel products on the domestic market.

"Aside from solving social problems, the program of providing citizens with affordable housing will contribute to economic development. In the final analysis, thanks to the introduction of this mortgage program the internal market is to be given a new impetus, a new quality of the economy," said Viktor Yanukovych..

Viktor Yanukovych drew separate attention to the need to reduce еру queues for housing and the importance of control over the economic justification of housing prices.

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