YEREVAN, JUNE 5, NOYAN TAPAN. The passivity of banks in the provision of consumer credits is a phenomenon typical of not only the Armenian banking system. In connection with the increased level of risks under conditions of the financial and economic crisis, banks in almost all countries are extremely cautious about crediting. RA Minister of Finance Tigran Davtian expressed this opinion at the June 4 press conference. According to him, some tendencies to activation of the credit provision sector have now begun because the negative expectations caused by the crisis have declined. "I think that these tendencies will be also observed in Armenia after a time," the minister said. On the other hand, negative expectations related to fluctuations of the exchange rate have declined in the country. The minister said that the government will contribute to activation of credit provision in Armenia by ensuring an inflow of external financial resources for commercial banks, which will increase the supply of credits. Considerable external resources will be attracted for this purpose within the next 1-2 months. Besides, the Central Bank of Armenia (CBA) will establish a mortgage fund to promote mortgage crediting and construction sector.

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