Government approves credits larization program

The government of Georgia has approved the National Bank’s larization program.

As Georgia’s Finance Minister Dimitri Kumsishvili has 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 natural persons whose annual income was not more than 100 000 Gel in 2015 and the remaining entire credit did not exceed 40 000 USD 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 has remarked.

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.

As reported, the program will take effect on January 17. (IPN)