03.Jun .2020 18:16

"All levers should be engaged now" - Butskhrikidze about subsidizing mortgage loans

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"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.