In the nearest future, mortgage crediting will work in Ukraine, Head of the government Mykola Azarov told a meeting of the Council of Entrepreneurs under the Cabinet on Friday.

"Over five months, the economy demonstrates and shows normal work. It is important for us in particular that a good growth became noticeable in construction and over four months we have rather good results. It is also an encouraging symptom that the terms of mortgage crediting have been actually renewed for our people, by terms of mortgage crediting we reached the rates that were in 2007. It means that the year of 2011 will be life-changing and the mortgage will start working," he said.

Azarov also underscored that as a result of such a process it is possible to expect active development of housing construction.

According to him, for the first time since the beginning of the economic crisis, over 51% of deposits at Ukrainian banks are made for a long period. "Long deposits... enable the banks to work on long credits. I.e., a very positive process has started. Now, the banking system liquidity is very high," Azarov said.

UKRINFORM