"Now all the levers must be engaged," Vakhtang Butskhrikidze, CEO of TBC Bank, told reporters when assessing the government's support package for developers, which includes subsidizing mortgage loans.
He said demand for mortgage loans had increased in May and the demand would increase further in June-July.
"If we compare April and May, May was quite active - we had about 90 million more mortgage loans. We think that June-July will be much more active.
This initiative will create even greater demand for mortgages. It is especially noteworthy that this will indirectly contribute to the larization of the country in the medium term. The main income of our population is in GEL and will systematically reduce the risks. Therefore, on the one hand, mortgages will be increased, on the other hand, the development sector will be improved”, Vakhtang Butskhrikidze explained.
See all the news
Turkey to open doors to 31 countries for health tourism
Statement by Andrius Kubilius on the EU assistance for Georgia
Wine sales have increased 5 times in the UK - Georgian-British startup
S&P: Georgia Heads Toward Recession
Coronavirus: Boris Johnson moved to intensive care
First-Stage Land Usage Permit for APM Terminals Poti
How will Nenskra HPP Reduce the Electricity Import?
Carrefour: The product will be on the shelves with the prices same as before
Differences between tobacco and nicotine products
OECD cuts 2020 global growth forecast over virus
Georgia to export new armored vehicle Didgori Meomari
"Hotels are in shock, reservations are canceled" - Shalva Alaverdashvili
Georgian brand Entrée enters the UK market and opens its first facility in London
The first Swiss-Georgian VET college will soon be open in Dmanisi
Frontera claims that Georgian government has started harassing the company since 2013
Company HotelFriend offers convenient eComerce platform to Georgian Touroperators
Will the head of "Anaklia Deepwater Port Development Agency" be replaced?
TOP-10 Exporter Companies from Georgia to Russia
TBC Bank Group announces certain changes to the composition of the Management Board
Silknet signed Memorandum of Understanding with Global Communications Company One Web