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Government approves credits Larization program
Publish Time 2017-01-11 18:10:00 Update Time 2017-01-11 20:23:00
The government of Georgia has approved the bank credits Larization program. The program will take effect starting January 17.
As Georgia’s Finance Minister Dimitri Kumsishvili declared, the government will implement subsidization of the Larization process according to the criteria selected by the government.
The Finance Minister has mentioned several significant criteria. According to him, the program will apply to the persons whose annual income was not more than 100 thousand Gel in 2015 and the remaining entire credit balance is not more than USD 40 thousand for January 1, 2015.
‘If the credit was covered from January 1, 2015 till November 28, 2016 the government will implement subsidization in this case,’ Kumsishvili claimed.
According to him the national currency will experience less influence by means of the program as the creditors will no longer have to buy dollar every month.