Yerevan /Mediamax/. Armenian Prime Minister Tigran Sargsian described the development of mortgage market today as a primary step, which is necessary in order to solve problems of the construction sector, which have occurred as a result of the global crisis.

As Mediamax was told in the press service of the government, Tigran Sargsian said this at a meeting with representatives of private construction and developer companies today.

The Prime Minister noted that it is important to continue and complete the construction, started within the framework of governmental programs, especially in the zone of Spitak earthquake.

Representatives of companies presented their concerns and problems, related to consequences of the global crisis: toughening in crediting policy, exaggerated forecasts on the upcoming abrupt decline of prices in real estate market.

Tigran Sargsian advised construction companies to closely cooperate with the Central Bank and realize another meeting after the Central Bank elaborates the corresponding concept.

“Your assessments, expectations and programs are of great importance for correct forecasting of financial flows and elaboration of possible scenarios for economic growth for 2009-2010”, Tigran Sargsian stated.