Georgian national bank's priorities include lowering interest rates
Georgia, Tbilisi, Oct. 28 /Trend, N.Kirtskhalia/
The priorities of the National Bank of Georgia include long-term period of loans and lowering interest rates, bank's president Giorgi Kadagidze said at today's meeting of Parliament.
According to him, the interest rates in Georgia are still high compared with European countries.
"Five or six years ago, it was hard to imagine that the credits can be issued under 11-12 percent, and now the dynamics is uniquely positive. Already steps have been taken to protect the rights of consumers. In particular, the National Bank has offered customers of the service to resolve disputes, which works very well. We are at the stage of development when it needs to find a balance in protecting the rights of consumers and rights of financial institutions," said Kadagidze.
According to him, today Georgia has historically high foreign exchange reserves - $2.8 billion, which is a guarantee of macroeconomic and financial stability.