UNM: Banking oligarchy established in Georgia

14:50, 02.05.2023

“Political and banking oligarchy and mafia rule are established in Georgia with the Russian oligarch in power,” said Levan Khabeishvili, Chair of the opposition United National Movement (UNM) party, at the plenary sitting in the parliament.

Khabeishvili said 600 thousand of citizens have bank loans as per 2022 statistics, while the “banking mafia” sets the interest rates instead of the free market. He also highlighted the net profit, saying it has increased 15 times compared to 2012, the period of UNM’s rule. Khabeishvili also stressed that Georgian nationals pay 5-7 higher mortgage interests than in EU countries.

“That’s why Bidzina Ivanishvili and the Russian Dream do not want the European Union, because they will no longer be able to rob people,” Khabeishvili claimed.

The UNM Chair said the oligarchic rule would end in Georgia as the country joined the European Union.

By - Elene Dobordjginidze

Politics

Levan Khabeishvili