20 August 2018,   18:48
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Finance Minister against Banks - Parliamentary Majority Discusses New Regulations for Commercial Banks

Finance Minister against Banks - Mamuka Bakhtadze did not specify today why the banking system is a brake for economy. At yesterday"s presentation Bakhtadze said that banks do not give any chance or loans to entrepreneurs to start business, which has become a problem in the country.

Mamuka Khazaradze does not agree with Mamuka Bakhtadze and reminds the Finance Minister about the role of Georgian banks in the development of Georgian business.

Part of the political parties are convinced that the authorities are now worried about what they have done themselves. The way out is the economic growth that the state should provide.

Finance Minister has not been the only one who has criticized the banking sector. The members of the parliament today compared them to the creditors and requested new regulations for these financial institutions.

Economists think that the reduction of high interest rates should not be driven by an artificial intervention but with a growing economy.

The Finance Minister criticized banks for not giving start-up credits
for businesses. The government says that this solution has already been found. It will attract money from international donors, allocating the rest from the budget for entrepreneurs to start business.

The Georgian government will not be able to launch the startup program without the banks, so Finance Minister plans to meet with financial institutions next week.

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