Association of Banks of Georgia: The new loan regulations pose a very high risk to the country's economy

Association of Banks of Georgia: The new loan regulations pose a very high risk to the country's economy

access_time2019-03-22 12:47:58

President  of the Association of Banks of Georgia, Alexander Dzneladze, expressed the hope that the authorities would revise the new loan regulations, which pose a very high risk to the country's economy.

According to Dzneladze, lending growth has slowed down significantly and  regulations should be  revised.

“Too tight regulations were imposed  for both consumer and mortgage loans and  their economic impact will be clear by the end of the year. We have constant  contacts with the National Bank and cooperate with it. The National Bank says that the results of the regulations will be analyzed in detail at the end of the quarter. As the Prime Minister said, after this the strict rules might be revised and relaxed, ” Alexander Dzneladze notes.

According to PM, the program implementation is being studied, after which the government will formulate its  position. In particular, the central bank, the Ministry of Finance and analysts are involved in the study and   their findings will be known in the near future.


“If necessary,  the program will be reviewed,” Mamuka Bakhtadze notes.

 PM says  that the decision was adopted as the  program of responsible lending was necessary.



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